Wells Fargo & Co. Upgrades SunTrust to Outperform (STI)
SunTrust (NYSE: STI) was upgraded by equities research analysts at Wells Fargo & Co. (NYSE: WFC) from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday.
A number of other analysts have also recently weighed in on STI. Analysts at Compass Point cut their price target on shares of SunTrust from $31.00 to $29.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Meredith Whitney upgraded shares of SunTrust to an “underperform” rating in a research note to investors on Tuesday, April 24th. Finally, analysts at Morgan Stanley (NYSE: MS) raised their price target on shares of SunTrust to $27.00 in a research note to investors on Tuesday, April 24th.
Shares of SunTrust traded down 3.03% during mid-day trading on Thursday, hitting $22.225. SunTrust has a 52 week low of $15.79 and a 52 week high of $26.52. The company has a market cap of $11.848 billion and a P/E ratio of 17.48.
SunTrust last announced its earnings results on Monday, April 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.12. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that SunTrust will post $0.49 earnings per share next quarter.
SunTrust Banks, Inc. (SunTrust ) is a commercial banking organization. The Company is a diversified financial services holding company whose businesses provide a range of financial services to consumer and corporate clients.