Despite Upgrade, SunTrust (STI) Moving Lower
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Shares of SunTrust Banks (NYSE: STI) are moving lower today with the broader Financial group despite an from an analyst this morning. The stock most recently traded at $19.35, down 1.5% from yesterday's close, while the Financial Select Sector SPDR ETF (NYSE: XLF) is down 2%.
An analyst at Morgan Stanley moved her investment rating on SunTrust from Underweight to Equalweight, also boosting her price target from $26 to $30. Although the analyst has the equivalent of a Hold on the stock, her new price target represents potential price appreciation of about 55%.
Visit our Analyst Ratings page to see all the market-moving analyst calls on shares of SunTrust.
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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