BB&T (BBT) – Investment Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of BB&T (NYSE: BBT) recently:
- BB&T had its price target lowered by analysts at Bernstein to $34.00. They now have a “market perform” rating on the stock.
- BB&T had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $38.00 price target on the stock.
- BB&T was downgraded by analysts at Sterne Agee from a “buy” rating to a “neutral” rating. They now have a $32.00 price target on the stock, down previously from $37.00. They wrote, “We are downgrading BBT to Neutral from Buy as mgmt has become markedly more cautious on the outlook for ’13, in part due to the persistent uncertainty and weak econ. Bottom line: expect. for grtr than expected NIM/spread press., elevated expns, and the likelihood for slowing loan growth will each serve to lower EPS growth over the near-interm. term. Estm:’13 $2.95 from $3.25; ’14 $3.25 from $3.40. Essentially flat core EPS in ’13 and high single digits in ’14. Our PT moves down to $32 from $37.”
- BB&T was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating. They now have a $35.00 price target on the stock. They wrote, “We have been on the sidelines with BBT hoping for an entry point as we like BBT’s above-average profitability and growth, strong balance sheet and risk discipline – all of which make for an attractive long-term investment – but had felt it was full near-term. Plus, we believe BBT (like PNC and USB) is in the sweet spot in terms of regional banks, as it’s large enough to get the best expense leverage, but not big enough to be weighed down by large capital requirements, and still has the option to grow via well-priced acquisitions where we believe opportunities will surface over time.”
- BB&T had its “market perform” rating reaffirmed by analysts at FBR Capital. They now have a $33.00 price target on the stock.
Shares of BB&T remained flat at $28.81 during during mid-day trading trading on Wednesday. BB&T has a one year low of $21.03 and a one year high of $34.37. The company has a market cap of $20.154 billion and a P/E ratio of 11.30.
BB&T Corporation (BB&T) is a financial holding company. BB&T conducts its business operations through its commercial bank subsidiary, Branch Banking and Trust Company (Branch Bank).