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SunTrust rates CenterState 'buy'; Citi Asian growth at risk, says Compass Point

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SunTrust rates CenterState 'buy'; Citi Asian growth at risk, says Compass Point

Initiation

* Michael Young of SunTrust Robinson Humphrey, now covering CenterState Bank Corp.'s stock, gave it a "buy" rating and a price target of $32.

The analyst noted that CenterState is positioned for above-peer loan and deposit growth. Young wrote that the Winter Haven, Fla.-based company is likely to get M&A opportunities both in and outside its current market in the next few years.

Notable reiterations

* Citigroup Inc. generates net income of approximately $3.56 billion from its operations in Asia, but its recent growth in retail bank investment products is at risk if the volatility in the Asian stock markets continues, Charles Peabody of Compass Point wrote.

The analyst wrote that the recent decline in the Asian stock markets is likely to hinder Citi's growth in its two main revenue drivers of wealth management and trading/investment banking products. Citi's investment sales grew by 40% last year along with growth of 23% in its assets under management, Peabody added.

The analyst has a rating of "sell" and a price target of $70.50 for the New York-based company's stock.