Market Overview

UPDATE: Sterne Agee Reiterates Neutral Rating, Raises PT on SunTrust Banks

Share:
Related STI
Americans Value Financial Stability More Than Looks, Physical Fitness
Here's Your Sell-Side Conference Preview
These Regional Banks Are Set To Soar Now That Tarullo Is Out (Seeking Alpha)

In a report published Monday, Sterne Agee reiterated its Neutral rating on SunTrust Banks (NYSE: STI), and raised its price target from $28.00 to $31.00.

Sterne Agee noted, “Core fundamentals beat expectations as positive operating leverage, lower mortgage repurchase demands/costs, and signs of life in C&I demand were each encouraging. However, normalizing credit metrics, NIM/spread pressure, and potential moderation of mortgage revenues will likely pressure EPS growth in '13. Although the shares of STI are not expensive, diminishing earnings leverage will likely keep a lid on the multiple for the time being. Neutral.”

SunTrust Banks closed on Friday at $29.35.

Latest Ratings for STI

DateFirmActionFromTo
Jan 2017UBSInitiates Coverage OnNeutral
Nov 2016Deutsche BankMaintainsBuy
Nov 2016Compass PointDowngradesBuyNeutral

View More Analyst Ratings for STI
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Analyst Ratings

 

Related Articles (STI)

View Comments and Join the Discussion!