Nomura Securities Maintains a 'Buy' on Regions Financial (RF); Lowers PT & Estimates

Nomura Securities maintains a 'Buy' on Regions Financial (NYSE: RF) price target lowered $1.00 to $6.50.

Nomura analyst, Brian Foran, said, "We think there is light at the end of the tunnel for RF’s credit story, and we remain hopeful that it is not the headlight of an oncoming train. Post the quarter we lower our 2012 EPS estimates to $0.55 from $0.65, and 2013E to $0.70 from $0.80. This reflects a slower pace of credit improvement. We lower our target to $6.50 from $7.50, in line with the estimate change. This implies RF trades at 10-11x earnings."

For more ratings news on Regions Financial click here and for the rating history of Regions Financial click here.

Shares of Regions Financial closed at $3.71 yesterday.

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