Cullen/Frost price target raised to $120 from $110 at Wedbush

Wedbush analyst David Chiaverini raised the firm’s price target on Cullen/Frost to $120 from $110 and keeps a Neutral rating on the shares. Cullen/Frost reported a strong quarter driven by better-than-expected NIM and NII, and while period-end deposits declined 4% sequentially, they were within management’s expectations, the analyst tells investors in a research note.