Fly News Breaks for January 30, 2020
Jan 30, 2020 | 18:22 EDT
As previously reported, BMO Capital analyst Lana Chan upgraded Huntington Bancshares to Market Perform from Underperform with an unchanged $15 price target. The analyst notes that the valuation premium on a forward earnings basis relative to the company's regional bank peers has dissipated while consensus estimates for its FY20 have also reverted closer to her forecast thanks to the "more realistic" expectations for net interest margins. Chan further states that the Street is now modeling a "significant deceleration" in stock buybacks this year.
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