Wells Fargo starts coverage with overweight rating
Shares of regional lender Huntington Bancshares HBAN.O rise marginally in morning trading session.
Wells Fargo initiates coverage on HBAN with an overweight rating and sets a price target of $23, a 29.4% upside to the stock's last close.
The brokerage says Huntington is well-positioned to benefit from a multi-year commercial loan growth cycle and stronger growth in Texas and Southeastern U.S. markets.
Wells Fargo expects the lender's past acquisitions, including Veritex and Cadence-related deals, to drive benefits into late 2026 and support earnings growth.
15 of 19 analysts rate the stock strong buy or buy and four hold; their median price target is $20, according to data compiled by LSEG.
Including the session move, the stock is up 4% year to date.
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