UPDATE: J.P. Morgan Raises Price Target on First Horizon to $10

According to J.P. Morgan, First Horizon National (NYSE: FHN) price target is raised to $10.

J.P. Morgan said that it recently met with Bryan Jordan, CEO of First Horizon. “With total return of near 30% expected through YE12, FHN is our current top pick among our coverage universe. Despite the recent strong rally in the shares, we continue to see the stocks as a good value trading at 0.9x TBV.”

First Horizon National closed yesterday at $7.82.