Market Overview

UPDATE: Morgan Stanley Upgrades Regions Financial to Overweight on Valuation

Share:
Related RF
Market Update: Wednesday's Top Volume Leaders
Market Update: Tuesday's Top Volume Leaders

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
Jul 2015Raymond JamesDowngradesStrong BuyOutperform
Apr 2015RBC CapitalDowngradesOutperformSector Perform
Apr 2015Guggenheim SecuritiesDowngradesBuyNeutral

View More Analyst Ratings for RF
View the Latest Analyst Ratings

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

 

Related Articles (RF)

Get Benzinga's Newsletters