Jefferies Boosts Price Target on Regions Financial (RF) to $5
Get Alerts RF Hot Sheet
Price: $18.90 -0.53%
Rating Summary:
11 Buy, 23 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
11 Buy, 23 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- Super Micro Computer (SMCI) Falls 6%
- Parke Bancorp (PKBK) Reports Q1 EPS of $0.51
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, Morgan Keegan & Company, 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!