J.P. Morgan Chase analysts on Tuesday assigned a neutral rating to First Horizon Corp. FHN with a $13 price target, following a period of no rating. Previously, JPMorgan had a December 2022 price target of $20 with an overweight rating. After its merger with TD was scrapped on May 4, First Horizon held an investor day on June 6. “We walked away from the investor day anticipating (1) bottom-line headwinds coming from the expense side while (2) the countercyclical buffers appear to be blunted instruments at the moment,” JPMorgan analysts said. First Horizon stock is down 4% in premarket trades on Tuesday.
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