These Analysts Slash Their Forecasts On First Horizon After Q3 Earnings

Core Insights - First Horizon Corp reported third-quarter earnings per share (EPS) of 51 cents, exceeding the analyst consensus estimate of 44 cents per share [1] - The company achieved quarterly sales of $889 million, surpassing the analyst consensus estimate of $847.179 million [1] Company Performance - Chairman, President, and CEO Bryan Jordan highlighted the strong quarterly performance as a result of disciplined strategy execution and the expertise of associates [2] - The diversified business model and geographic footprint of First Horizon are seen as advantageous in a changing environment [2] - The company's focus on safety, profitability, and growth aims to meet evolving client needs with tailored solutions [2] Stock Performance and Analyst Ratings - Following the earnings announcement, First Horizon shares increased by 0.4% to $20.92 [2] - Analysts have adjusted their price targets for First Horizon, with JP Morgan lowering it from $25 to $23 while maintaining a Neutral rating [5] - Keefe, Bruyette & Woods also lowered their price target from $24 to $23, maintaining a Market Perform rating [5] - Evercore ISI Group downgraded First Horizon from Outperform to In-Line, reducing the price target from $26 to $20 [5] - Wells Fargo maintained an Equal-Weight rating but lowered the price target from $25 to $23 [5]