Morgan Stanley Downgrades Cullen/Frost Bankers to Underweight, Raises Price Target to $121
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded Cullen/Frost Bankers (NYSE:CFR) from Equal-Weight to Underweight while raising the price target from $112 to $121.
August 05, 2024 | 9:35 am
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Morgan Stanley has downgraded Cullen/Frost Bankers from Equal-Weight to Underweight, indicating a less favorable outlook despite raising the price target to $121.
The downgrade to Underweight suggests that Morgan Stanley sees potential downside or underperformance for Cullen/Frost Bankers relative to other stocks, which could negatively impact the stock price in the short term. However, the raised price target to $121 indicates some positive aspects, but the overall sentiment is less favorable.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100