UPDATE: Stifel Nicolaus Increases Target to $12.50 on MainSource Financial Group

Stifel Nicolaus raises its target price on Buy-rated MainSource Financial Group

by $1 to $12.50 on improved outlook. Stifel Nicolaus says, "We were fortunate to accompany CEO Archie Brown and CFO Jamie Anderson on several visits with investors over the last few days and came away more upbeat on the outlook for credit, expense control and fee income growth. Furthermore, loan growth is likely to be up slightly versus the modest decline we had forecast. We have raised our 2012 EPS estimate to $1.06 and our 2013 estimate to $1.17. We have increased our price target to $12.50 and strongly reiterate our Buy rating." MSFG closed at $9.99 a share on Thursday.