Goldman Sachs Increases SunTrust Price Target to $47.00 (STI)
Equities researchers at Goldman Sachs raised their target price on shares of SunTrust (NYSE:STI) from $45.00 to $47.00 in a research report issued on Monday. Goldman Sachs’ price objective suggests a potential upside of 16.86% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods upgraded shares of SunTrust from a “market perform” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $46.00 price target on the stock, up previously from $41.00. Separately, analysts at Sterne Agee initiated coverage on shares of SunTrust in a research note on Friday, May 30th. They set a “buy” rating and a $48.00 price target on the stock. Finally, analysts at Nomura initiated coverage on shares of SunTrust in a research note on Wednesday, May 14th. They set a “neutral” rating and a $41.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. SunTrust currently has a consensus rating of “Buy” and an average price target of $41.50.
SunTrust (NYSE:STI) opened at 40.22 on Monday. SunTrust has a one year low of $31.25 and a one year high of $41.26. The stock’s 50-day moving average is $39.05 and its 200-day moving average is $38.25. The company has a market cap of $21.363 billion and a P/E ratio of 15.98.
SunTrust (NYSE:STI) last released its earnings data on Monday, April 21st. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Analysts expect that SunTrust will post $3.11 EPS for the current fiscal year.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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