Keefe, Bruyette & Woods Downgrades SunTrust Banks (STI) to Market Perform
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Price: $31.88 +1.95%
Rating Summary:
17 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
17 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade STI Now!
Keefe, Bruyette & Woods downgrades SunTrust Banks (NYSE: STI) from Outperform to Market Perform. Price target $20.
Keefe analyst says, "Although we believe STI has the capital to make it through the cycle, we do not believe that STI will make money until mid-2010. Now that STI's valuation has come in line with its large-cap peers and has surpassed our price target, we do not see merit in our Outperform rating. As a result, we are downgrading STI to Market Perform. Raising price target to $20."
To see more analyst ratings on STI Click Here.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank, which provides various financial services to consumer and corporate customers in the United States.
Keefe analyst says, "Although we believe STI has the capital to make it through the cycle, we do not believe that STI will make money until mid-2010. Now that STI's valuation has come in line with its large-cap peers and has surpassed our price target, we do not see merit in our Outperform rating. As a result, we are downgrading STI to Market Perform. Raising price target to $20."
To see more analyst ratings on STI Click Here.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank, which provides various financial services to consumer and corporate customers in the United States.
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