Baird places ‘bullish fresh pick’ on First Horizon amid selloff

Baird placed a “bullish fresh pick” designation on First Horizon (FHN) amid the post-earnings selloff. The firm has an Outperform rating on the shares with a $25 price target Today’s pullback is overdone and provides an opportunity to add to positions “in one of the most attractive franchises in the group,” the analyst tells investors in a research note. Baird views First Horizon as a likely seller rather than buyer in the current merger and acquisition cycle. It believes selling is a better path for shareholders versus inorganic growth.