Jefferies Boosts Numbers on Regions Financial (RF), Keeps Hold

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Jefferies raised estimates and its price target on Regions Financial (NYSE: RF) from $7.00 to $7.50, but maintained its Hold rating.

The firm comments, "We are increasing our 2012 estimate by $0.30 (to $0.75) and our 2013 estimate by $0.05 (to $0.85). More aggressive reserve release assumptions drive the bulk of our revisions. Our price target moves to $7.50 (from $7.00) to reflect the higher estimates. We are starting to like the story longer term, but would like to see a better path to loan growth to get more positive."

For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.

Shares of Regions Financial closed at $6.45 yesterday, with a 52 week range of $2.82-$7.45.

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