Market Overview

UPDATE: Compass Point Research & Trading Upgrades Huntington Bancshares to Buy, Raises PT

Share:

In a report published Friday, Compass Point Research & Trading upgraded its rating on Huntington Bancshares (NASDAQ: HBAN) from Neutral to Buy, and raised its price target from $6.00 to $8.00.

Compass Point noted, “Following 4Q12 earnings, we upgrade our rating on the shares of HBAN to Buy from Neutral and raise our price target to $8 from $6. Concerns regarding NIM compression, NII decline, pressure from the mortgage banking segment and expense ratios appear more than priced into the stock and we expect core results to be repeatable. 4Q12 EPS of $0.19 beat consensus by $0.02 and the 2013 outlook improved. Driving the 4Q13 beat was stronger than expected NIM, loan growth and mortgage banking income. We estimate core EPS of $0.18, still $0.01 ahead of consensus. Our new $8 price target represents 12x our 2014 EPS estimates and a multiple of 1.08x YE14 our BVPS estimate of $7.39.”

Huntington Bancshares closed on Thursday at $6.50.

Latest Ratings for HBAN

DateFirmActionFromTo
Oct 2019MaintainsOutperform
Oct 2019DowngradesBuyNeutral
Sep 2019DowngradesBuyNeutral

View More Analyst Ratings for HBAN
View the Latest Analyst Ratings

Posted-In: Compass Point Research & TradingAnalyst Color Upgrades Analyst Ratings

 

Related Articles (HBAN)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
BHVNWedbushInitiates Coverage On75.0
APLSWedbushInitiates Coverage On23.0
FTIBerenbergDowngrades22.5
ENTAJMP SecuritiesDowngrades
DRHWells FargoUpgrades11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Whole Foods

UPDATE: Who Will Be Next Head of the SEC?