First Horizon price target raised to $25 from $23 at Wells Fargo

Wells Fargo raised the firm’s price target on First Horizon (FHN) to $25 from $23 and keeps an Equal Weight rating on the shares. The firm remains constructive on regional banks, and favors banks where improving fundamentals could drive valuation re-rating higher in the second half of 2025, especially those that also benefit from increased M&A activity.