Cullen/Frost price target raised to $125 from $110 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Cullen/Frost (CFR) to $125 from $110 and keeps an Underweight rating on the shares. Midcap banks are trading at their widest discount to the largest banks in over 10 years, and the setup is positive going into earnings with green shoots on loan acceleration, benign credit and ongoing benefits to net interest income, the analyst tells investors in a research note.