Stifel Nicolaus Maintains Buy on First Horizon National

Stifel Nicolaus is out with its report today on First Horizon National FHN, maintaining Buy. In its report, Stifel Nicolaus writes, "As the banking industry struggles to generate revenues and profits in a deleveraging, more intensely regulated environment, profit growth via the consolidation of competitors looms as an increasingly attractive option. For this reason, we believe the time period FHN management has to deploy this excess capital is not infinite. First Horizon remains Buy-rated." Stifel Nicolaus maintains a $14 PT on FHN. At the time of posting, shares of FHN were trading at $9.09, up 1.11% from Friday's close.