Huntington Bancshares upgraded to Outperform from Neutral at Baird

Baird analyst David George upgraded Huntington Bancshares (HBAN) to Outperform from Neutral with an unchanged price target of $18. The risk/rewards in the U.S. banks group have improved after this week’s share weakness, the analyst tells investors in a research note. The firm says the recent weakness in the bank group has resulted in an opportunity to get more constructive. While the group could remain volatile near term, upside potential “finally outweighs downside risk in several bank names as the election euphoria has faded and then some,” contends Baird. It believes Huntington is a “high-quality regional, poised for above-average PPNR growth.”