Huntington Bancshares price target lowered to $18 from $20 at Citi

Citi lowered the firm’s price target on Huntington Bancshares (HBAN) to $18 from $20 and keeps a Buy rating on the shares. The firm revised U.S. bank targets on for “through-the-cycle” valuations. Citi reduced its cost of equity assumptions to reflect early-cycle levels, but feels more comfortable anchoring to 10.5%, better reflecting through-the-cycle levels.