Wunderlich Securities Maintains First Horizon National Buy, $15 PT (FHN)

Wunderlich Securities maintained its First Horizon National FHN Buy rating and $15 price target in a research report published today. In the report, Wunderlich Securities states, "FHN reported its fourth straight quarterly operating profit for 1Q11, easily exceeding consensus as well as our expectations, as credit quality improved across the board. However, revenue challenges were evident as NII and core fee income declined, although the majority of revenue weakness was the result of seasonal factors impacting 1Q11." Shares of First National Horizon were trading at $10.27 at the time of posting, down 4.29% from Wednesday's market close.