UBS Remains Sidelined on Regions Financial Corporation (RF); Raises PT to $9.50

UBS reiterated a Neutral rating on Regions Financial Corporation (NYSE: RF), and raised the price target to $9.50 (from $9.00), following the company's 2Q earnings report.

Analyst David Eads commented, "It is our sense that concerns around RF's commercial credit outlook led to the weak performance for RF shares today, although we were surprised at the degree of underperformance. Regions is one of the only banks to see weakness on both credit trends and loan growth in their commercial books this quarter, and while the energy portfolio improved, we expect the deterioration in certain agriculture, transportation, and metals loans was related to second-order effects from energy-exposed markets. On the other hand, RF's credit and loan growth trends remain solid on the consumer side."

For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.

Shares of Regions Financial closed at $8.88 yesterday.

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