SunTrust Stock Rating Upgraded by Merrill Lynch (STI)
SunTrust (NYSE:STI) was upgraded by equities research analysts at Merrill Lynch to a “neutral” rating in a research note issued to investors on Thursday, American Banking News reports.
A number of other analysts have also recently weighed in on STI. Analysts at Bank of America Corp. upgraded shares of SunTrust from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $38.00 price target on the stock, up previously from $32.00. Separately, analysts at BMO Capital Markets upgraded shares of SunTrust from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $42.00 price target on the stock, up previously from $40.00. Finally, analysts at Barclays upgraded shares of SunTrust from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, up previously from $34.00. Sixteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.17.
Shares of SunTrust (NYSE:STI) traded up 1.99% during mid-day trading on Thursday, hitting $38.01. The stock had a trading volume of 4,915,785 shares. SunTrust has a one year low of $26.93 and a one year high of $37.44. The stock has a 50-day moving average of $36.07 and a 200-day moving average of $34.32. The company has a market cap of $20.291 billion and a price-to-earnings ratio of 16.27.
SunTrust (NYSE:STI) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.66 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.69 by $0.03. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company posted $1.98 earnings per share. SunTrust’s revenue was up .9% compared to the same quarter last year. Analysts expect that SunTrust will post $2.36 EPS for the current fiscal year.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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