Cullen/Frost Bankers (CFR) PT Raised to $145 at BofA Securities

BofA Securities analyst Ebrahim Poonawala raised the price target on Cullen/Frost Bankers (NYSE: CFR) to $145.00 (from $142.00) while maintaining a Buy rating.

The analyst comments "Cullen/Frost-CFR shares outperformed peers after reporting a 1Q25 EPS beat of $2.30 (vs BofAe/cons of $2.24/$2.18) and raising FY25 NII and fee income guides. Notably, the NII guidance increase (to 5%-7% YoY growth from 4%-6%) appears insulated from potential rate-driven downside risks as the new outlook includes two additional rate cuts (four total). The 1Q beat was primarily driven by stronger fee income ($124mn vs BofAe/cons of $113mn/$116mn) and lower provisions ($13.1mn vs BofAe/cons of $17.5mn/$17.7mn). Raise FY25/26 ests 2.8%/2.7% to $9.38/$9.24 (see Exhibit 1), PO to $145 from $142."

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