Keefe, Bruyette & Woods Upgrades Washington Federal (WFSL) to Outperform

October 23, 2009 7:35 AM EDT

Keefe, Bruyette & Woods upgrades Washington Federal (Nasdaq: WFSL) to Outperform, price target $21.

Keefe analyst says, "WFSL reported fiscal 4Q09 EPS of $0.11, three cents above consensus and eight cents above our estimate. We are increasing our fiscal 2010 EPS estimate to $0.45, from $0.43, and establishing a fiscal 2011 EPS estimate of $0.94. We are raising our one-year price target on shares of WFSL to $21, from $16, and changing our rating to Outperform, from Market Perform."

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Washington Federal, Inc. operates as the holding company for Washington Federal Savings, which provides various financial services in the United States.


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