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STI

SunTrust

$64.16

-0.05 (-0.08%)

, BBT

BB&T

$49.87

-0.18 (-0.36%)

15:04
06/12/19
06/12
15:04
06/12/19
15:04

SunTrust and BB&T announced Truist as the name for the combined company

BB&T Corporation (BBT) and SunTrust Banks (STI) announced Truist as the name for the combined company to be created through their merger of equals. Truist will be the sixth-largest U.S. bank holding company serving more than 10 million households in the U.S., with a leading presence in many of the most attractive, high-growth markets in the country. Building on 275 years of combined history and culture, Truist's additional size and scale will redefine the client experience through innovative technology and create meaningful change in its communities. "With the merger of equals, our goal is to create a bold, transformative organization that delivers a smarter and easier client experience through technology and human connection," said BB&T Chairman and Chief Executive Officer Kelly S. King, who will serve as the Chairman and CEO of the combined company. "True to the heritage of both companies, Truist will reflect what we stand for - a shared belief in building a better future for our clients and communities."

STI

SunTrust

$64.16

-0.05 (-0.08%)

BBT

BB&T

$49.87

-0.18 (-0.36%)

  • 18

    Jul

  • 18

    Jul

STI SunTrust
$64.16

-0.05 (-0.08%)

03/11/19
MSCO
03/11/19
DOWNGRADE
Target $73
MSCO
Equal Weight
Morgan Stanley downgrades SunTrust to Equal Weight as focus shifts to execution
As previously reported, Morgan Stanley analyst Betsy Graseck downgraded SunTrust (STI) to Equal Weight from Overweight as she believes it to be prudent to "take some chips off the table" following the year-to-date outperformance driven by news of its merger of equals with BB&T (BBT). The focus of investors will shift from the merger to execution and while she thinks the $1.6B in cost savings seem attainable at 12% of the combined company's expenses, she also expects it will take two years before net expense savings convincingly accelerate, she tells investors. She lowered her price target on SunTrust shares to $73 from $80 and lowered her price target on BB&T shares to $56 from $62.
03/26/19
DBAB
03/26/19
UPGRADE
Target $53
DBAB
Buy
BB&T upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Matt O'Connor last night upgraded BB&T (BBT) to Buy from Hold with an unchanged price target of $53. After meeting with CEO of SunTrust (STI), the analyst remains positive on the merger and the combined stock. He upgraded BB&T to be consistent with his Buy rating on SunTrust. He notes that BB&T shares are down 11% since the deal was announced on February 7.
04/04/19
04/04/19
UPGRADE
Target $44

Strong Buy
Synovus upgraded to Strong Buy at Raymond James
As previously reported, Raymond James analyst David Lon upgraded Synovus (SNV) to Strong Buy from Outperform, with a $44 price target. The analyst cited the recent pullback in the stock and what he sees as an outsized opportunity for market share gain stemming from the recently announced BB&T (BBT)-SunTrust (STI) mega merger.
04/04/19
RAJA
04/04/19
DOWNGRADE
RAJA
Market Perform
BB&T downgraded to Market Perform on near-term noise at Raymond James
As previously reported, Raymond James analyst David Lon downgraded BB&T (BBT) to Market Perform from Outperform and reducing his EPS estimates. The analyst cited the nearer-term noise surrounding its merger with SunTrust (STI) and his view that BB&T shares are unlikely to outperform until there is greater clarity on when the deal will actually close and its ability to retain key talent with the combined company's footprint. Moreover, larger acquirer stock prices generally haven't reacted favorably over the past few years, he contends.
BBT BB&T
$49.87

-0.18 (-0.36%)

03/26/19
03/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) upgraded to Strong Buy from Market Perform at Raymond James , to Hold from Sell at Loop Capital, and to Sector Weight from Underweight at KeyBanc. 2. BB&T (BBT) upgraded to Buy from Hold at Deutsche Bank with analyst Matt O'Connor saying after meeting with CEO of SunTrust (STI), he remains positive on the merger and the combined stock. 3. Vertex (VRTX) upgraded to Outperform from Market Perform at William Blair with analyst Y. Katherine Xu citing expectations that the company's cystic fibrosis franchise will continue dominating after Proteostasis (PTI) reported disappointing triplet data. 4. Allegiant Travel (ALGT) upgraded to Outperform from Neutral at Macquarie with analyst Susan Donofrio citing her meetings with its management last week. 5. TransAlta (TAC) upgraded to Buy from Hold at TD Securities with analyst John Mould saying Brookfield Renewable Partners (BEP) $750M investment in TransAlta improves the company's financial flexibility, accelerates its ability to return capital to shareholders and advance the coal-to-gas conversion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/04/19
RAJA
04/04/19
DOWNGRADE
RAJA
Market Perform
BB&T downgraded to Market Perform from Outperform at Raymond James

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CABO

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VFC

VF Corp.

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TSLA

Tesla

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Tesla put buyer realizes 36% same-day gains »

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COUP

Coupa Software

$119.01

-1.3 (-1.08%)

07:57
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  • 11

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BB

BlackBerry

$7.55

-0.74 (-8.93%)

07:56
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SM

SM Energy

$12.56

0.63 (5.28%)

07:55
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ITRI

Itron

$60.88

0.48 (0.79%)

07:55
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  • 27

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XEC

Cimarex Energy

$57.17

1.64 (2.95%)

07:53
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  • 06

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COUP

Coupa Software

$119.01

-1.3 (-1.08%)

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  • 11

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LECO

Lincoln Electric

$79.77

0.1 (0.13%)

07:52
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Lincoln Electric rating change  »

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EV

Eaton Vance

$42.13

0.455 (1.09%)

07:50
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LBC

Luther Burbank

$10.33

-0.13 (-1.24%)

07:50
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QIWI

Qiwi

$20.29

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KBH

KB Home

$23.58

-0.24 (-1.01%)

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FIZZ

National Beverage

$42.28

-0.92 (-2.13%)

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HIVE

Aerohive

$4.44

1.26 (39.62%)

07:46
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IMGN

ImmunoGen

$1.95

0.14 (7.73%)

07:45
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  • 27

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ACRS

Aclaris Therapeutics

$4.45

0.06 (1.37%)

07:43
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APLS

Apellis

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-0.38 (-1.59%)

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TRIP

TripAdvisor

$44.04

-0.47 (-1.06%)

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