Keefe, Bruyette & Woods Lowers Price Target On SunTrust Banks On Lowered EPS Estimates

In a report published Tuesday, Keefe, Bruyette & Woods analyst Christopher Mutascio reiterated an Outperform rating on

, but lowered the price target from $46.00 to $45.00. In the report, Keefe, Bruyette & Woods noted, “Based on the company's 4Q14 results reported on Friday (see our Initial Look note), management's updated guidance and our view that the Fed will hold short-term interest rates lower for longer than originally anticipated, we are lowering our EPS estimates to $3.35 and $3.65 from $3.40 and $3.75 for 2015 and 2016, respectively. We are modestly lowering our target price to $45 from $46 to account for the lower 2016 EPS estimate. With a total potential return of 20%, we are maintaining our Outperform rating.” SunTrust Banks closed on Friday at $38.19.