Jefferies Reiterates Buy on Huntington Bancshares

Jefferies is out with its report today on Huntington Bancshares HBAN, reiterating Buy. In a note to clients, Jefferies writes, "We reiterate our Buy rating on HBAN following mgmt meetings. In our view, HBAN should be able to grow pre-tax, pre-provision income directionally, even with investment spending layered into results. Loan growth should continue to outpace most peers, and we believe HBAN should also get more help from lower deposit costs. Credit continues to improve and we believe HBAN will remain disciplined with its strong capital base." Jefferies maintains an $8 PT on HBAN. Shares of HBAN closed Thursday at $6.42.