Keefe Bruyette analyst Catherine Mealor upgraded Cullen/Frost Bankers, Inc. (NYSE:CFR) to Outperform from Market Perform on January 5. Her price target remains at $150.
The firm noted the stock underperformed in 2025. It now sees multiple factors that could drive earnings estimates higher through 2027.
Mealor expects the bank's organic loan growth to accelerate significantly. She forecasts it will lead its peer group, reaching approximately 8% in 2026.
Keefe Bruyette also believes Cullen/Frost will increase its capital deployment. The analyst argued the market has not fully priced in the potential earnings benefit from the bank's branch expansion strategy.
Barclays took a different view in early December. The firm reduced its price target on Cullen/Frost to $140 from $145. It kept an Equal Weight rating.
Barclays said the adjustment was part of a broader 2026 outlook update for mid-cap banks. The firm anticipates wider divergences within the group regarding loan growth and book value expansion.
Cullen/Frost Bankers, Inc. is a bank holding company focused on Texas. It offers various financial products and services across multiple markets in the state.