UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on SunTrust Banks

In a report published Monday, Jefferies & Company reiterated its Buy rating on SunTrust Banks STI, and raised its price target from $29.00 to $33.00. Jefferies noted, “We recently met with line of business execs at SunTrust (consumer, commercial, mortgage). Mortgage continues to be the near-term standout, with positive revenue trends and improving credit performance. Consumer and commercial divisions continue to work on revenue productivity and efficiency, with loan growth showing in many products, but not quite breaking out.” SunTrust Banks closed on Friday at $29.91.