UPDATE: Guggenheim Securities Reiterates Neutral Rating, Raises PT on Huntington Bancshares as Improvement is Still Off in the Distance

In a report published Tuesday, Guggenheim Securities analyst Marty Mosby reiterated a Neutral rating on

, and raised the price target from $9.50 to $10.00. In the report, Guggenheim Securities noted, “Until short-term interest rates are expected to rise soon or regulators loosen their grip on excess capital, we believe investors should begin to be more selectively focused on banks with the potential for earnings momentum and a relative discount in valuation.” Huntington Bancshares closed on Monday at $9.11.