Jefferies Maintains a 'Hold' on City National (CYN); Bumping Numbers After Another 'Beat and Raise'

Jefferies maintains a 'Hold' on City National (NYSE: CYN) price target of $50.00 (from $49.00).

Analyst, Casey Haire, said, "In a quarter in which both interest rates and market levels worked against CYN's revenue model, the company still managed to beat our earnings forecast. We add a nickel to our 2013 estimate (now $3.85) to account for the higher starting point for revenues, but see little upside to estimates in a low interest rate environment."

FY12 EPS estimate raised from $3.55 to $3.70 and FY13 from $3.80 to $3.85.

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 $49.41 yesterday.

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