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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Susquehanna Bancshares

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In a report published Friday, Jefferies & Company reiterated its Buy rating on Susquehanna Bancshares (NASDAQ: SUSQ), but slightly lowered its price target from $12.00 to $11.50.

Jefferies noted, “We cut our 2013 EPS estimate a nickel to $0.95 due to a softer NII forecast. NIM forecast still looks good at 3.95% for next year, but a $16.5b balance sheet is a tall order at this pace of growth. We note that our $0.95 estimate is still above consensus ($0.93) and valuation remains attractive (11x 2013 vs. 13x peer avg.).”

Susquehanna Bancshares closed on Thursday at $10.44.

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