- BB&T (NYSE:BBT) slips 0.8% after Janney analyst Christopher Marinac downgrades the stock to neutral from buy, citing potential for share premium to flatten with the pending merger with SunTrust.
- Marinac sees the merger closing by year-end given the recently announced sale of 30 branches to First Horizon National to address antitrust concerns.
- Sees higher stock prices for share repurchases and a slight NIM reduction on pro-forma quarters with STI merger.
- Price target of $58; implies 5.6% upside potential vs. Friday's close.
- Quant rating is Neutral; before this action, Sell-Side average rating was already Bullish (8 Very Bullish, 2 Bullish, 14 Neutral).