UPDATE: KBW Raises PT on Alliance Data Systems to $106

KBW is out with its report today on Alliance Data Systems (NYSE: ADS), raising its PT from $96 to $106.

In a note to clients, KBW writes, "Following Alliance Data's 2Q11 earnings announcement, we are maintaining our 2011 Core EPS estimate of $7.35 and raising our 2012 Core EPS estimate to $8.12 (from $8.00), mainly to reflect the Aspen acquisition. We are also raising our price target to $106 from $96, but maintaining our Market Perform rating."

Shares of ADS closed Thursday at $96.48.