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UPDATE: Sterne Agee Downgrades BB&T Corporation to Neutral, Lowers PT

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In a report published Friday, Sterne Agee Group downgraded its rating on BB&T Corporation (NYSE: BBT) from Buy to Neutral, and lowered its price target from $37.00 to $32.00.

Sterne Agee noted, “We are downgrading BBT to Neutral from Buy as mgmt has become markedly more cautious on the outlook for '13, in part due to the persistent uncertainty and weak econ. Bottom line: expect. for grtr than expected NIM/spread press., elevated expns, and the likelihood for slowing loan growth will each serve to lower EPS growth over the near-interm. term. Estm:'13 $2.95 from $3.25; '14 $3.25 from $3.40. Essentially flat core EPS in '13 and high single digits in '14. Our PT moves down to $32 from $37.”

BB&T Corporation closed on Thursday at $29.78.

Latest Ratings for BBT

DateFirmActionFromTo
Sep 2016CLSAMaintainsOutperform
Jul 2016BairdDowngradesOutperformNeutral
Jun 2016Sandler O'NeilDowngradesBuyHold

View More Analyst Ratings for BBT
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Posted-In: Sterne Agee GroupAnalyst Color Downgrades Analyst Ratings

 

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