In a report published Monday, Jefferies analyst Ken Usdin reiterated a Hold rating on SunTrust Banks STI, and raised the price target from $34.00 to $36.00.
In the report, Jefferies noted, “We increase our '13 estimate by $0.10 to $2.75 and our '14 estimate by $0.15 to $3.00. Faster-than-expected improvement in mortgage and home equity credit and a better run-rate for non-environmental expenses are the main reasons for our revisions. Better EPS visibility should allow STI to trade at a lesser discount to the group over time, but we still believe revenue needs to improve for the stock to break out.”
SunTrust Banks closed on Friday at $34.30.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in