Piper Jaffray Upgrades Regions Financial (RF) to Overweight
Get Alerts RF Hot Sheet
Rating Summary:
11 Buy, 23 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 11
Join SI Premium – FREE
Piper Jaffray upgraded Regions Financial (NYSE: RF) from Neutral to Overweight with a price target of $11.00, saying low rages and energy losses are priced in.
Analyst Kevin Barker commented, "We upgrade RF to Overweight from Neutral and maintain our $11 price target. Considering the stock is now trading at levels last since early 2013 (on earnings and TBV), we believe RF is more than pricing in huge losses on its energy portfolio, rates remain near current levels and the company is not able to generate positive operating leverage. Although our forward estimates are materially below the street we believe the pressure on earnings from low rates or energy losses is more than priced into the stock. Also, with the stock now trading below TBV of $8.52, the risk-reward of owning RF is very attractive given the company is showing signs of fee income growth and there will be increased discussion of a takeout if the stock remains near current levels (in our opinion)."
FY16E EPS moves to $0.81 from $0.82 and FY17E EPS to $0.89 from $0.91.
For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.
Shares of Regions Financial closed at $8.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Evercore ISI Upgrades First Solar (FSLR) to Outperform
- Morgan Stanley Double Downgrades AU Optronics (2409:TT) (AUO) to Underweight
- Evercore ISI Downgrades SunPower (SPWR) to In Line
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Hot Upgrades, UpgradesRelated Entities
Piper Jaffray, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!