Miller Tabak Raises Price Target on BB&T Capital (BBT), Expects 1 or More Acquisitions Over Next 24 Months

Miller Tabak is maintaining its Neutral rating on shares of BB&T Capital (NYSE: BBT) while raising its price target from $19.70 to $22.29.

Based on its pat performance of making accretive in-market and near-market acquisitions, the firm believes that the second half of 2011 and 2012 will be strong for the company.

Miller Tabak also feels that BBT has written down enough of its recession-legacy Georgia and Florida residential construction and developments and is ready to take the next step with some new challenges.

Over the next 18-24 months the firm anticipates at least one or more acquisition deals, but does not forecast that management will acquire more risk to its core portfolio.

For 2011, Miller Tabak estimates EPS of $1.94 with a return of equities of 7.2 percent. For 2012, the firm is estimating EPS of $2.76 with a $0.80 dividend and 705 million shares outstanding.

For more ratings news on BB&T Capital click here and for the rating history of BB&T Capital click here.

Shares of BB&T Capital closed at $22.67 yesterday.

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