BB&T’s Target and Estimates Cut at Morgan Stanley (BBT)

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Banking company BB&T Corporation ( BBT ) saw its earnings estimates and price target lowered on Monday by analysts at Morgan Stanley.

The firm said it cut its estimates for BBT through 2012, citing recent losses from asset resolution. Morgan Stanley maintained its "Equal-weight" rating on the stock, but cut its price target to $32. Still, that new price target represents a potential 25% upside to the stock's Friday closing price of $25.54.

BB&T shares were mostly flat in premarket trading Monday.

The Bottom Line
We had removed shares of BBT from our recommended list on Oct.9, 2008 when the stock was trading at $33.01. The company has a 2.35% dividend yield, based on Friday's closing stock price of $25.54. The stock has technical support in the $22-$24 price area. If the shares can firm up, we see overhead resistance around the $28-$30 price levels. We would remain on the sidelines for now.

BB&T Corporation ( BBT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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