SunTrust PT Raised to $38.50 at JPMorgan Chase & Co. (STI)
Research analysts at JPMorgan Chase & Co. hoisted their price objective on shares of SunTrust (NYSE:STI) from $36.00 to $38.50 in a report released on Wednesday, ARN reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 12.67% from the stock’s previous close.
Shares of SunTrust (NYSE:STI) traded up 0.62% during mid-day trading on Wednesday, hitting $34.17. The stock had a trading volume of 4,301,889 shares. SunTrust has a 52 week low of $25.30 and a 52 week high of $36.29. The stock has a 50-day moving average of $33.92 and a 200-day moving average of $31.56. The company has a market cap of $18.287 billion and a price-to-earnings ratio of 8.63.
SunTrust (NYSE:STI) last issued its quarterly earnings data on Friday, July 19th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.01. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company posted $0.50 earnings per share. On average, analysts predict that SunTrust will post $2.72 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Compass Point upgraded shares of SunTrust (NYSE:STI) from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, September 12th. Separately, analysts at Deutsche Bank upgraded shares of SunTrust (NYSE:STI) from a “hold” rating to a “buy” rating in a research note to investors on Friday, September 6th. They now have a $39.00 price target on the stock, up previously from $36.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of SunTrust (NYSE:STI) in a research note to investors on Monday, August 26th. They now have a $36.00 price target on the stock.
One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.35.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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