Wells Fargo Maintains Equal-Weight Rating for First Horizon: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Equal-Weight rating on First Horizon (NYSE:FHN) and increased its price target from $11.50 to $14.00. First Horizon's shares have risen 0.66% to $13.67, and the new target suggests a 2.42% upside. First Horizon, a regional bank with a strong presence in Tennessee, derives most of its revenue from banking operations and has a significant market share in deposits.
December 06, 2023 | 5:00 pm
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Wells Fargo maintains Equal-Weight rating on First Horizon and raises price target to $14.00, indicating a potential 2.42% increase from the current price.
The increase in the price target by Wells Fargo suggests a positive outlook on First Horizon's stock, which could lead to a short-term increase in its share price. As the rating was maintained and not upgraded, the impact may be moderate rather than strong, hence the importance is set at 75. The confidence level is high due to the direct mention and specific price target provided by a reputable financial institution.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100