UPDATE: Jefferies Raises PT on Associated Banc-Corp on Recent CFO Meetings

In a report published Friday, Jefferies analyst Emlen Harmon reiterated a Buy rating on Associated Banc-Corp ASBC, and slightly raised the price target from $16.00 to $17.00. In the report, Harmon noted, “Recent meetings with Associated CFO Chris Niles reinforced our view that the company has levers to pull on earnings power, including stepped-up capital return plans, expense optimization, and continued reserve release. We take our '13 EPS estimate to $1.05 (from $1.00) and '14 goes to $1.15 (from $1.10).” Associated Banc-Corp closed on Thursday at $15.13.