BUZZ-Regions Financial gains after Citi raises PT

Reuters11-22 00:53
BUZZ-Regions Financial gains after Citi raises PT

** Shares of U.S. regional bank Regions Financial RF.N up 2.1% at $26.82

** Brokerage Citi reiterates "buy" rating on RF and raises price target to $30 from $26, citing an "attractive value" on the stock

** Brokerage sees RF's balance sheet strongly positioned for further rate cuts

** Post-election, we are revising our estimates, removing previously anticipated headwinds from caps on debit interchange fees, given these rules are now more likely to be watered down — Citi

** 13 of 25 brokerages rate the stock "buy" or higher, 11 "hold" and 1 "sell"; their median PT is $26.25 — LSEG

** Including sessions' move, RF up nearly 38% YTD

(Reporting by Pritam Biswas in Bengaluru)

((Pritam.Biswas@thomsonreuters.com))

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