Manan Gosalia, an analyst from Morgan Stanley, maintained the Buy rating on Huntington Bancshares. The associated price target remains the same with $19.00.
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Manan Gosalia has given his Buy rating due to a combination of factors that highlight Huntington Bancshares’ strong financial performance and potential for future growth. The company’s second-quarter operating earnings per share exceeded expectations, driven by higher net interest income and fees. This positive performance was anticipated, as Huntington had previously announced preliminary results alongside their merger announcement with Veritex.
Gosalia notes that Huntington has increased its guidance for net interest income and expenses for 2025, with expectations of an 8-9% year-over-year increase in NII. Despite higher expenses, the bank’s consistent outperformance in loan growth and net interest margin supports the potential to exceed these projections. Additionally, while the full-year fee income guidance remains unchanged, there is potential to reach the higher end of the range due to expected seasonal strength in capital markets. These factors collectively position Huntington Bancshares well for continued success, justifying the Buy rating.
Gosalia covers the Financial sector, focusing on stocks such as Cadence Bank, Huntington Bancshares, and M&T Bank. According to TipRanks, Gosalia has an average return of 8.5% and a 58.56% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $19.00 price target.