Cullen/Frost price target raised to $113 from $104 at Citi

Citi analyst Benjamin Gerlinger raised the firm’s price target on Cullen/Frost (CFR) to $113 from $104 and keeps a Sell rating on the shares post the Q3 report. The firm believes the pace of the company’s loan growth likely slows modestly from 2024 levels as competition increases and lending rates are competed lower.