Regions Financial gains after Citi raises PT
21/11/2024 16:53
** Shares of U.S. regional bank Regions Financial RF.N up
2.1% at $26.82
** Brokerage Citi reiterates "buy" rating on RF and raises
price target to $30 from $26, citing an "attractive value" on
the stock
** Brokerage sees RF's balance sheet strongly positioned for
further rate cuts
** Post-election, we are revising our estimates, removing
previously anticipated headwinds from caps on debit interchange
fees, given these rules are now more likely to be watered down —
Citi
** 13 of 25 brokerages rate the stock "buy" or higher, 11
"hold" and 1 "sell"; their median PT is $26.25 — LSEG
** Including sessions' move, RF up nearly 38% YTD
(Reporting by Pritam Biswas in Bengaluru)
((Pritam.Biswas@thomsonreuters.com))
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