UPDATE: Sterne Agee Raises PT on BB&T from $35 to $37

Sterne Agee maintained a Buy rating on BB&T Corp. BBT and raised its price target from $35 to $37. Sterne Agee noted, “BBT reported a good quarter highlighted by positive operating leverage, steady loan growth, and margin/spread expansion. Moreover, margin guidance was raised for 2H12 and loan growth is expected to remain steady despite the planned reduction in retained mortgage. Positive outlook, better than expected growth through recent acquisitions, and capital flexibility. BUY.” BB&T Corp. closed at $31.49 on Monday.