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

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In a report published Tuesday, Keefe, Bruyette & Woods analyst Christopher Mutascio reiterated an Outperform rating on SunTrust Banks, Inc. (NYSE: STI), 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.

Latest Ratings for STI

DateFirmActionFromTo
Nov 2019Janney CapitalDowngradesBuyNeutral
Nov 2019Morgan StanleyMaintainsEqual-Weight
Oct 2019Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for STI
View the Latest Analyst Ratings

 

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Posted-In: Bruyette & Woods Christopher Mutascio KeefeAnalyst Color Price Target Analyst Ratings

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