Evercore ISI Group Downgrades Cullen/Frost Bankers to Underperform, Raises Price Target to $111
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst John Pancari downgraded Cullen/Frost Bankers (NYSE:CFR) from In-Line to Underperform, while raising the price target from $98 to $111.

January 03, 2024 | 12:14 pm
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Cullen/Frost Bankers was downgraded by Evercore ISI Group from In-Line to Underperform, although the price target was raised from $98 to $111.
The downgrade to Underperform suggests that Evercore ISI Group expects Cullen/Frost Bankers' stock to perform poorly relative to the market or its sector. However, the increase in the price target indicates a belief that the stock still has potential to grow in value, albeit at a pace that may not keep up with market averages. This mixed signal can lead to short-term negative sentiment as investors may focus more on the downgrade status.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100