Wells Fargo raised the firm’s price target on First Hawaiian (FHB) to $21 from $20 and keeps an Underweight rating on the shares. The firm looks for 2025 to be the 4th straight year of negative EPS growth, as the asset sensitive balance sheet and muted loan growth stunt net interest income. Wells sees the valuation premium narrowing as investor focus shifts to growth and away from safety and soundness.
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