IberiaBank (IBKC) PT Lowered to $80 at SunTrust

SunTrust analyst Jennifer Demba lowered the price target on IberiaBank (NASDAQ: IBKC) to $80.00 (from $86.00) while maintaining a Buy rating.

Analyst says: "We are reiterating our Buy rating, revising our 2019/2020 EPS estimates, introducing a 2021 EPS estimate and adjusting our PT to $80. The estimate revision primarily reflects lower NIM assumptions. The cost of deposits should decline in 4Q19 as deposit inflows are seasonally better then. Asset quality remains excellent, even in the E&P energy portfolio, as IBKC is a highly conservative underwriter. Importantly, IBKC should continue to be diligent with expense reductions and control to offset interest rate related headwinds. Acquisition interest seems muted now."

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Navios Maritime Partners (NMM) PT Raised to $100 at Jefferies
• Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project