Wedbush Starts SunTrust Banks (STI) at Neutral
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Wedbush initiates coverage on SunTrust Banks (NYSE: STI) with a Neutral rating and a price target of $47.00.
Analyst Peter Winter commented, "We believe STI is nearly fairly valued as it’s trading at a slight premium to its regional bank peers. Our NEUTRAL rating is based solely on valuation. We are forecasting EPS growth in 2016 and 2017 at or slightly below the regional bank group average. In terms of profitably (ROA, ROE), STI essentially trades in line with its peers. They do maintain a slightly better (lower) efficiency ratio, which is a major focus for the company."
Shares of SunTrust Banks closed at $45.79 yesterday.
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