Jefferies Bumps Price Target On Boston Private Financial (BPFH) As Credit Recovery Continues

Jefferies lifted its price target on Boston Private Financial (NASDAQ: BPFH) from $6.50 to $8.00 but kept its Hold rating.

The firm comments, "Credit quality metrics continue to improve and the revenue picture is stronger than expected given loan growth prospects and a resilient margin outlook while cost saves will help drive efficiency ratio lower in mid-2012. Valuation metrics largely reflect a rising EPS trajectory with the stock trading at 13x our 2012 EPS estimate vs. 12x peer average."

For more ratings news on Boston Private Financial click here and for the rating history of Boston Private Financial click here.

Shares of Boston Private Financial closed at $7.11 yesterday.

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