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In a report published Monday, Wunderlich Securities analyst Kevin B. Reynolds reiterated a Hold rating and $89.00 price target on
Cullen/Frost BankersCFR.
In the report, Wunderlich Securities noted, “We maintain our Hold rating on shares of Cullen/Frost Bankers, as well as our price target of $89. We are maintaining our 2014 earnings per share estimate of $4.40, as well as our 2015 EPS estimate of $4.85. Our 12-18 month price target of $89.00 equates to 18.4 times our 2015 EPS estimate, which is a premium to the median for Southern banks in our research universe that reflects much of the benefit that CFR would likely enjoy should short-term interest rates rise over the next 12 to 18 months.”
Cullen/Frost Bankers closed on Friday at $63.65.
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