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UPDATE: Sterne Agee Upgrades Cullen/Frost Bankers to Neutral on Risk/Reward

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Benzinga's Top Upgrades, Downgrades For May 19, 2017
Benzinga's Top Upgrades

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

DateFirmActionFromTo
May 2017WedbushUpgradesUnderperformNeutral
Apr 2017Raymond JamesInitiates Coverage OnMarket Perform
Jan 2017JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for CFR
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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