UPDATE: Compass Point Upgrades Huntington Bancshares to Buy

Compass Point is out with its report today on Huntington Bancshares (NASDAQ: HBAN), upgrading HBAN to Buy from Neutral.

In its report, Compass Point writes, "Recent concerns over auto loan pricing and thus NIM contraction, as well as growth challenges have resulted in downward pressure on shares of HBAN. We agree with those concerns. At this price, we believe those challenges are adequately priced into the stockand we are upgrading shares to BUY from NEUTRAL and reiterate our $7 price target."

At the time of posting, shares of HBAN were trading pre-market at $5.14, up 4.26% from Monday's close.