Why did Bank of America change its opinion?

Bank of America lost faith in Huntington Bancshares' ambitious earnings targets.

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Street Calls of the Week

First publishedAug 2, 10:00 UTC

Last updatedAug 2, 20:35 UTC · 12m ago

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Answer

Bank of America cut its rating of Huntington Bancshares to Neutral from Buy, and lowered its price target to $18.50.

Reported by 1 outlet — Investing.com · Stock Market. See all sources ↓

Bank of America changed its opinion about Huntington Bancshares. It now thinks the company's value is not increasing. The bank also lowered its price target for Huntington Bancshares to $18.50.

Why it matters

This news is important for people who invest in the stock market. It can affect the value of their investments.

In brief

Why did Bank of America change its opinion?: Bank of America lost faith in Huntington Bancshares' ambitious earnings targets.
What is the new price target for Huntington Bancshares?: $18.50
What happened to Huntington Bancshares' valuation?: It stopped increasing.

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Bank of America's rating change and price target adjustment
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Investing.com · Stock MarketAug 2, 10:00provides a recap of market-moving analyst comments