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NEW YORK (TheStreet) -- Huntington Bancshares (HBAN)  stock is jumping 4.53% to $8.41 on heavy trading volume Wednesday following upgrades from two Wall Street firms. 

Earlier this morning, Robert W. Baird lifted its rating on the stock to "outperform" from "neutral" with a $12 price target. Macquarie also raised its rating to "neutral" from underperform."

Analysts are bullish after the company yesterday announced that it would acquire rival company FirstMerit Corp. (FMER) for about $3.4 billion in cash and stock, creating the largest bank in Ohio. 

The combined company will have nearly $100 billion in assets, the Wall Street Journal noted.

Overall, the firms believe this acquisition is an opportunity for Huntington. 

As of 1:25 p.m., more than 21.4 million shares had changed hands, above the company's average trading volume of about 12.3 million shares. 

Separately, TheStreet Ratings currently has a Buy rating on the stock with a letter grade of B. 

The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and expanding profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HBAN

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