Jefferies Updates Numbers on SunTrust Banks (STI); Wash it Down with a Coke
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Price: $31.94 +0.60%
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade STI Now!
Jefferies maintains a 'Buy' on SunTrust Banks (NYSE: STI) price target of $29.00 (from $28.00).
Analyst, Ken Usdin, said, "We view STI's Coke (NYSE: KO)(NotCovered) sale and balance sheet derisking as a modest positive as it eliminates the mortgage repurchase overhang and creates a cleaner earnings run-rate for '13. We increase our '13 estimate by $0.10 to $2.75 as lower credit-related expenses offset lost net interest income. We increase our price target to $29 as a result of our new estimate."
FY12 EPS estimate raised from $1.95 to $3.66 and FY13 from $2.65 to $2.75.
For an analyst ratings summary and ratings history on SunTrust Banks click here. For more ratings news on SunTrust Banks click here.
Shares of SunTrust Banks closed at $26.68 yesterday, with a 52 week range of $15.79-$26.77.
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Analyst, Ken Usdin, said, "We view STI's Coke (NYSE: KO)(NotCovered) sale and balance sheet derisking as a modest positive as it eliminates the mortgage repurchase overhang and creates a cleaner earnings run-rate for '13. We increase our '13 estimate by $0.10 to $2.75 as lower credit-related expenses offset lost net interest income. We increase our price target to $29 as a result of our new estimate."
FY12 EPS estimate raised from $1.95 to $3.66 and FY13 from $2.65 to $2.75.
For an analyst ratings summary and ratings history on SunTrust Banks click here. For more ratings news on SunTrust Banks click here.
Shares of SunTrust Banks closed at $26.68 yesterday, with a 52 week range of $15.79-$26.77.
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