UPDATE: Sterne Agee Upgrades Cullen/Frost Bankers to Neutral on Risk/Reward
Sterne Agee raised its rating on Cullen/Frost Bankers (NYSE: CFR) from Underperform to Neutral and increased its price target from $53 to $54.
Sterne Agee commented, "We are upgrading CFR to Neutral from Underperform with the shares near our PT and our expectations for less underperformance on a relative basis going forward. Simply put, while the NIM and core profitability may remain under incremental pressure throughout FY13/14, we believe the potential for low- to mid-single digit revenue growth will result in better relative performance going forward than the past several quarters."
Cullen/Frost Bankers closed at $54.13 on Wednesday.
Latest Ratings for CFR
|Jan 2017||JP Morgan||Upgrades||Underweight||Neutral|
|Dec 2016||SunTrust Robinson Humphrey||Upgrades||Neutral||Buy|
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