Wedbush Starts Cullen/Frost Bankers (CFR) at Neutral

October 7, 2016 6:49 AM EDT
Get Alerts CFR Hot Sheet
Price: $84.73 +1.77%

Rating Summary:
    2 Buy, 12 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 20 | New: 14
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Wedbush initiates coverage on Cullen/Frost Bankers (NYSE: CFR) with a Neutral rating and a price target of $68.00.

Analyst Peter Winter commented, "Volatility around energy prices has caused significant swings in CFR’s stock price and we expect a continued correlation as CFR’s energy exposure represents 13% of loans. CFR's above-average exposure to energy compared to its Texas peers is a headwind to loan growth, but we see this largely reflected in the stock price as its premium valuation has narrowed."

For an analyst ratings summary and ratings history on Cullen/Frost Bankers click here. For more ratings news on Cullen/Frost Bankers click here.

Shares of Cullen/Frost Bankers closed at $72.89 yesterday.

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