Market Overview

UPDATE: Morgan Stanley Upgrades Regions Financial to Overweight on Valuation

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Interest Rates Are Still Perking Up
Earnings Scheduled For July 19, 2016
Rough session for financials as Deutsche Bank and interest rates slide (Seeking Alpha)

Morgan Stanley raised its rating on Regions Financial (NYSE: RF) from Underperform to Overweight and increased its price target from $8 to $8.50.

Morgan Stanley said, "Our $8.5 price target is 0.7x 2014e P/BV, 1.0x 2014e P/TBV and 10.0x 2014e P/E vs current valuation of 0.57x 2014e P/BV, 0.82x P/TBV and 8.2x P/E. Credit improvement, continued de-risking without sacrificing on loan growth critical to driving stock. … Housing/credit improvement; strong mortgage banking; higher capital return; and credit rating upgrades driving lower debt costs."

Regions Financial closed at $7.05 on Tuesday.

Latest Ratings for RF

DateFirmActionFromTo
Aug 2016BernsteinDowngradesOutperformMarket Perform
Jun 2016Keefe, Bruyette & WoodsUpgradesUnderperformMarket Perform
May 2016Keefe, Bruyette & WoodsDowngradesMarket PerformOutperform

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Posted-In: Morgan StanleyAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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