Janney Montgomery Scott Upgrades BB&T Corporation (BBT) to Buy; Cloudy With A Good Chance Of Appreciation

October 27, 2010 7:43 AM EDT
Get Alerts BBT Hot Sheet
Price: $45.43 +0.31%

Rating Summary:
    16 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Janney Montgomery Scott upgrades BB&T Corporation (NYSE: BBT) to Buy. PT $28.

JMS analyst says, "BB&T's diversified banking and fee-based business model has enabled the company to survive the worst of the downturn and will allow it to absorb significant hits from loan sales that are likely to occur over the next couple of quarters. Ridding the portfolio of problem loans should meaningfully hurt near-term earnings but accelerate profitability later in 2011. This combined with the potential commercial loan growth that the company demonstrated this quarter, bodes well for long-term shareholders."

To see all the upgrades/downgrades on shares of BBT, visit our Analyst Ratings page.

Shares finished trading at $22.50 yesterday and the 52-wk range is $21.72 - 35.72

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