SunTrust Banks (NYSE:STI) Outlook Strengthened on Margins, Balance Sheet, Investment Banking

SunTrust Banks (NYSE:STI) had their EPS estimates raised by Jefferies (NYSE:JEF) on their capital markets and investment banking businesses, along with a growing balance sheet and expanding margins.

Jefferies boosted their EPS estimates for full year 2011-13 from $0.85, $2.15, and $2.90 to $0.90, $2.20, and to $3.05.

They maintain a "Hold" rating on SunTrust Banks (STI), which closed Monday at $29.06, down $0.44, or 1.49 percent.

Jefferies raised their price target on SunTrust from $30 to $32.