Analyst Rating In Review: SunTrust Banks
Jul 16, 2013 (Analyst Reflections via COMTEX) --
BMO Capital downgraded SunTrust Banks (NYSE:STI) from Outperform to Market Perform a week ago. The stock closed at $34.09.
In the past 52 weeks, SunTrust Banks share prices have been bracketed by a low of $22.34 and a high of $34.64 and are now at $34.00, 52% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.3%.
Based on a current price of $34.00, SunTrust Banks is currently 7.6% above its average consensus analyst price target of $31.42. SunTrust Banks shares have support at the 50-day moving average (MA) of $31.86 and additional support at the 200-day MA of $29.14.
Hey putz - if BMO downgraded, why did they just do this today?
"And BMO Capital increased its price target on shares of SunTrust (STI) to $35 as the company’s guidance implies better margins going forward. With the higher price target, BMO increased its EPS estimates as well. Shares of SunTrust were flat on Monday, trading just below the new price target."