'Y'all Street' is booming. Wells Fargo says this regional bank stands to benefit
Texas' financial boom is accelerating and Huntington Bancshares is positioned to profit from it, according to Wells Fargo. The bank initiated the Ohio-based bank with an overweight rating and a $23 price target, implying about 28% upside from Friday's close of $17.91.
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Texas' financial boom is accelerating and Huntington Bancshares is positioned to profit from it, according to Wells Fargo. The bank initiated the Ohio-based bank with an overweight rating and a $23 price target, implying about 28% upside from Friday's close of $17.91. "'Y'all Street' is now directly relevant," analyst Mike Mayo wrote, citing Texas' fast population growth, an economy larger than Canada, 57 Fortune 500 headquarters and a leading share of data-center development. On top of that, many banks have moved large parts of their operations to Texas from states such as New York.
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Why it matters
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- What's the story?
- Texas' financial boom is accelerating and Huntington Bancshares is positioned to profit from it, according to Wells Fargo. The bank initiated the Ohio-based bank with an overweight rating and a $23 price target, implying about 28% upside from Friday's close of $17.91.
- How widely is it covered?
- 1 outlet, average source rating 7.0/10.
- When was it last updated?
- 3m ago.
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'Y'all Street' is booming. Wells Fargo says this regional bank stands to benefit
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