SunTrustShares of SunTrust of Atlanta have returned 28% this year. The shares trade 1.4 times their reported Sept. 30 tangible book value of $26.27, and for 12.2 times the consensus 2014 earnings estimate of $2.96 a share, among analysts polled by Thomson Reuters. The consensus 2015 EPS estimate is $3.28. Oppenheimer analyst Terry McEvoy on Wednesday upgraded SunTrust to an "outperform" rating from a "perform" rating. His price target for the shares is $40.00. In addition to upgrading SunTrust the analyst reiterated his "outperform" rating for KeyCorp ( KEY) of Cleveland, while raising his price target for KEY to $14 from $13.00. In a note discussing the upgrades, McEvoy cited both companies' "further opportunities to reduce expenses," along with a "more favorable" outlook for earnings growth than regional bank peers.
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