Jefferies Boosts Price Target on Regions Financial (RF) to $5

Jefferies raised its price target on Hold-rated Regions Financial (NYSE: RF) from $4.50 to $5.

The firm comments, "Credit improvement and an upward trajectory for NIM are clear positives, but longer-term earnings challenges still remain. We trim our '12 and '13 estimates by a nickel a piece to $0.40 and $0.70, respectively, to reflect lower earning assets and the divestiture of Morgan Keegan. We increase our price target to $5 (from $4.50) as we give RF a higher multiple to reflect continued progress on credit."

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 $5.23 yesterday.

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