Huntington Bancshares price target lowered to $18 from $20 at Raymond James

Raymond James analyst David Long lowered the firm’s price target on Huntington Bancshares (HBAN) to $18 from $20 and keeps a Strong Buy rating on the shares. Huntington Bancshares reported “impressive” Q1 results, highlighted by favorable net interest income and net interest margin trends, robust balance sheet growth, and manageable credit metrics, the analyst tells investors in a research note. Its combination of a relationship-banking focus, attractive core deposit base, multiple organic growth opportunities, superior profitability, stringent underwriting, and strong leadership is deserving of a premium valuation, the firm argues.