UPDATE: UBS Investment Research Raises Target on National Financial to $17
UBS Investment Research reiterates its Neutral rating on National Financial (NYSE: NFP) and raises its price target to $17, up $4, on solid Q4 beat from the company.
UBS Investment Research notes, "Cash EPS beat was largely due to lower than expected expenses and tax rate (each contributing $0.01 of the beat). NFP repurchased 1.03M shares for $13.2M in 4Q11 and has already bought back the remaining $8.2M authorized as of 2/6/12. Mgmt intends to continue capital deployment via new $50M buyback authorization and acquisitions."
NFP closed at $15.92 a share on Tuesday.
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Tags: UBS Investment Research