Truist has revised its price target for Huntington Bancshares (HBAN, Financial) downward to $17 from the previous $21, although it maintains a Buy rating on the stock. This adjustment comes in the wake of recalibrating the company's growth outlook in the face of an increased risk of economic recession.
Despite the reduced price target, Truist has expressed optimism about Huntington's future earnings potential by raising its 2025 and 2026 earnings per share (EPS) projections. The firm now anticipates an EPS of $1.50 for 2025, marking a 7% increase, and a slight 1% bump to $1.65 for 2026. These revisions come after Huntington reported stronger-than-expected results in its latest quarterly earnings and provided positive guidance for the fiscal year 2025.
The decision to lower the price target, however, reflects caution, as Truist adjusted its one-year-out target multiple to account for heightened recession risks. Investors are advised to consider these mixed signals when evaluating the stock's potential performance in the near term.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Huntington Bancshares Inc (HBAN, Financial) is $17.65 with a high estimate of $21.00 and a low estimate of $15.00. The average target implies an upside of 31.92% from the current price of $13.38. More detailed estimate data can be found on the Huntington Bancshares Inc (HBAN) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Huntington Bancshares Inc's (HBAN, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Huntington Bancshares Inc (HBAN, Financial) in one year is $15.20, suggesting a upside of 13.6% from the current price of $13.3799. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Huntington Bancshares Inc (HBAN) Summary page.
