The firm cut its price target on the Atlanta-based bank holding company to $41 from $43.
Baird cited a negative risk to reward ratio stemming from a higher valuation than its peers due to outperformance in 2016, the Fly reports.
Shares of STI were slipping 0.71% to $43.55 in trading on Friday morning.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SUNTRUST BANKS INC as a Buy with a ratings score of B+. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins, growth in earnings per share and attractive valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: STISTI data by YCharts