BofA lowered the firm’s price target on Cullen/Frost (CFR) to $160 from $163 and keeps a Buy rating on the shares. The firm reduced price targets among its regional banks by 3% on average to reflect lower multiples on increased EPS uncertainty and a rising cost of equity.
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Read More on CFR:
- Cullen/Frost price target raised to $155 from $150 at Barclays
- Cullen/Frost price target lowered to $150 from $155 at Evercore ISI
- Cullen/Frost price target lowered to $133 from $143 at Morgan Stanley
- Cullen/Frost price target raised to $152 from $141 at Cantor Fitzgerald
- Cullen/Frost price target raised to $143 from $136 at Morgan Stanley