First Horizon price target raised to $27 from $24 at RBC Capital

RBC Capital raised the firm’s price target on First Horizon (FHN) to $27 from $24 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for Regional Banks. The firm’s model revisions are “modest”, with outlooks seen as relatively stable from Q2 earnings, the analyst tells investors in a research note. RBC sees fundamentals being supported by margin momentum and strengthening loan growth, with key themes for the quarter being around growth expectations, margin outlook trends, and M&A discussions, the analyst added.