Cullen/Frost price target raised to $117 from $116 at Stephens

Stephens analyst Matt Olney raised the firm’s price target on Cullen/Frost to $117 from $116 and keeps an Equal Weight rating on the shares following Q4 results the firm sees being highlighted by “solid” net interest income and “excellent” fees and improving loan growth. 2024 guidance calls for stronger net interest income relative to consensus, which is driving the firm’s positive EPS revision, the analyst noted.