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UPDATE: Keefe, Bruyette & Woods Reiterates, Raises PT On First Horizon National On Expected Untapped Earnings Power

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In a report published Tuesday, Keefe, Bruyette & Woods analyst Jefferson Harralson reiterated an Outperform rating on First Horizon National Corp. (NYSE: FHN), and raised the price target from $15.00 to $16.00.

In the report, Keefe, Bruyette & Woods noted, “We are raising our FHN price target to $16 from $15. The new price target is 1.8x the current tangible book and 16.8x 2016 our $0.95 EPS estimate. That said, the $0.95 estimate is nowhere near FHN's ultimate earnings power, which we estimate to be in the $1.26-1.37 EPS range. Our $16 target is only 12x the midpoint of this range, cheaper than peers.”

First Horizon National closed on Monday at $13.41.

Latest Ratings for FHN

DateFirmActionFromTo
Jan 2019DowngradesOutperformIn-Line
Jan 2019DowngradesNeutralUnderperform
Jan 2019DowngradesMarket OutperformMarket Perform

View More Analyst Ratings for FHN
View the Latest Analyst Ratings

Posted-In: Jefferson Harralson Keefe Bruyette & WoodsAnalyst Color Price Target Analyst Ratings

 

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UPDATE: Keefe, Bruyette & Woods Terminates Coverage On First Financial Service Following Acquisition By CBIN