Jefferies Maintains a 'Hold' on City National (CYN); CFO Meeting Highlights
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Price: $1.09 +1.87%
Rating Summary:
8 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on City National (NYSE: CYN) price target raised $1 to $48.
Analyst, Casey Haire, said, "While a lower for longer rate environment will lead to underwhelming ROEs and more NIM compression, CYN is still poised to modestly grow EPS thanks to deposit growth, cost discipline, and low credit costs. Capital management is unlikely to make a meaningful splash with buybacks off the table and few M&A opportunities big enough to move the EPS needle."
Jefferies raises FY12 EPS estimate from $3.35 to $3.40 and FY13 from $3.60 to $3.65.
For an analyst ratings summary and ratings history on City National click here. For more ratings news on City National click here.
Shares of City National closed at $48.50 yesterday.
Analyst, Casey Haire, said, "While a lower for longer rate environment will lead to underwhelming ROEs and more NIM compression, CYN is still poised to modestly grow EPS thanks to deposit growth, cost discipline, and low credit costs. Capital management is unlikely to make a meaningful splash with buybacks off the table and few M&A opportunities big enough to move the EPS needle."
Jefferies raises FY12 EPS estimate from $3.35 to $3.40 and FY13 from $3.60 to $3.65.
For an analyst ratings summary and ratings history on City National click here. For more ratings news on City National click here.
Shares of City National closed at $48.50 yesterday.
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