First Horizon price target raised to $14 from $11.50 at Wells Fargo

Wells Fargo analyst Timur Braziler raised the firm’s price target on First Horizon to $14 from $11.50 and keeps an Equal Weight rating on the shares. Guidance for FY24 calls for PPNR growth and the potential for positive operating leverage, barring meaningful rate cuts, the firm says. Wells also increased its EPS estimates, although it still models modest negative operating leverage through 2025.