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Fly News Breaks for July 8, 2019
Jul 8, 2019 | 05:15 EDT
BMO Capital analyst Lana Chan downgraded Huntington Bancshares (HBAN) to Underperform from Market Perform with an unchanged price target of $14. The analyst sees only 5% total return in shares compared to an average 14% total return potential for other regional banks. Chan lowered her estimates for Huntington to account for a lower rate environment and higher costs for hedging. Further, the company has less support than peers from stock buybacks, the analyst tells investors. She prefers shares of Outperform-rated Regions Financial (RF) over Huntington Bancshares.
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