UBS Reiterates a 'Buy' on SunTrust Banks (STI); Improved Repurchase and Capital Visibility

UBS reiterates a 'Buy' on SunTrust Banks (NYSE: STI) price target raised from $22 to $24.

UBS analyst says, "Though we expect increased mortgage repurchase activity in 2012, STI demonstrated its ability to absorb losses with minimal impact to capital and put up solid growth in loans, deposits and NII. As part of our thesis, we believe that investors have been very cautious on the repurchase issue and that the clarity in 4Q11 helped remove some of that uncertainty."

For an analyst ratings summary and ratings history on SunTrust Banks click here. For more ratings news on SunTrust Banks click here.

Shares of SunTrust Banks closed at $21.29 yesterday.

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