Cullen/Frost price target lowered to $140 from $147 at RBC Capital

RBC Capital lowered the firm’s price target on Cullen/Frost (CFR) to $140 from $147 and keeps a Sector Perform rating on the shares after its Q1 results. The company’s fundamentals remained strong with solid loan growth, seasonal deposit trends, margin expansion, higher fees, and reasonable expense trends, the analyst tells investors in a research note. RBC adds that the outlook remains positive, with management slightly raising revenue and margin expectations for the full year.