Sterne Agee Upgrades BB&T, Downgrades PNC Financial
Shares of BB&T Corporation (NYSE: BBT) were upgraded Monday by Sterne Agee.
The upgrade comes at the heels of Oppenheimer's upgrade from Perform to Outperform on October 1.
Stern Agree upgraded BB&T from Neutral to Buy, with an expectation that BB&T's revenue stream will continue to expand in the coming year. A new price target was set at $43 per share, roughly an 18 percent expansion from Monday's open of $36.67 per share. Shares were recently trading at $36.67.
Stern Agree downgraded PNC Financial Services Group Inc (NYSE: PNC) from Buy to Neutral, a week after Deutsche Bank's downgrade. The bank reduced price targets from $94 to $87 per share, a reduction of roughly 7.5 percernt. Shares were recently trading at $82.47.
Latest Ratings for BBT
|Jan 2017||UBS||Initiates Coverage On||Neutral|
|Nov 2016||Deutsche Bank||Maintains||Buy|
|Nov 2016||BMO Capital||Downgrades||Outperform||Market Perform|
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