Morgan Stanley raised the firm’s price target on Cullen/Frost (CFR) to $143 from $136 and keeps an Underweight rating on the shares. The firm is increasing price targets by a median 8% across the midcap banks group. While noting that recent outperformance means “the bar is higher from here,” the firm remains optimistic on the group, citing tailwinds from loan growth, net interest margin and capital return.
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- Cullen/Frost price target raised to $160 from $154 at TD Cowen
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