real-time news and commentary for investors
Friday, Sep 6
SunTrust upgraded to Buy at Deutsche
- Analyst Matt O'Connor sees the potential for EPS upside from the continuing housing recovery benefitting both credit and expenses. STI management has talked plenty about the benefit of lower expenses, but has put no numbers behind it. O'Connor sees $150M, or $0.20 per share and hikes his 2015 estimate to $3.46 to account for this.
- He also notes the stock has recently fallen 8% vs. a 5% decline for its peers. This puts the shares at 9x 2015 estimates, a 15% discount to peers.
- The price target is raised to $39 from $36.