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Downgrade Alert for First Horizon National (FHN)

By Shiri Gupta

First Horizon National (NYSE:FHN) was downgraded from Market Perform to Underperform at Wells Fargo today. The stock closed yesterday at $15.02 on volume of 2.0 million shares, above average daily volume of 2.0 million.

Potential upside of 0.7% exists for First Horizon National, based on a current level of $15.02 and analysts' average consensus price target of $15.13. First Horizon National shares have support at the 200-day moving average (MA) of $13.98 and additional support at the 50-day MA of $13.36.

In the past 52 weeks, shares of First Horizon National have traded between a low of $11.51 and a high of $16.35 and closed yesterday at $15.02, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

First Horizon National Corporation, through its subsidiaries, provides a range of financial services. The Company offers a variety of commercial banking services and also conducts mortgage banking, capital markets, and transaction processing.

SmarTrend recommended that subscribers consider buying shares of First Horizon National on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.50. Since that recommendation, shares of First Horizon National have risen 4.0%. We continue to monitor FHN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades first horizon national

Ticker(s): FHN