Extremely significant positive changes in First Horizon Corp (NYSE: FHN) investment behavior have recently occurred: the stock rose on very heavy volume, and the stock’s recent price rise disrupted its longer term downtrend.
Recent meaningful positive changes in fundamentals have benefitted First Horizon Corp (NYSE: FHN): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, FHN is expected to continue to be an important Value Builder.
First Horizon has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. First Horizon has a slightly positive Appreciation Score of 66 and a good Power Rating of 80, leading to the Highest Value Trend Rating.
Recent Price Action
First Horizon Corp (NYSE: FHN) stock closed at $15.77 on 6/28/24 after a very large increase of 6.6%. Moreover, trading volume in this advance was exceptionally high at 255% of normal. The stock has risen 7.9% during the last week and has been exceptionally strong relative to the market over the last nine months.
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