UPDATE: Keefe, Bruyette & Woods Upgrades Simmons First National Corporation to Outperform, Raises PT on Metropolitan Acquisition Benefits

In a report published Monday, Keefe, Bruyette & Woods analyst Brian Zabora upgraded the rating on

from Market Perform to Outperform, and raised the price target from $40.00 to $42.00. In the report, Keefe, Bruyette & Woods noted, “We are upgrading the shares SFNC to Outperform from Market Perform as the benefits from the Metropolitan acquisition are tracking better than anticipated and we expect further positives from the streamlining of operations and the pending acquisition of Delta. We are raising our 2014 and 2015 EPS estimates and target price to $42 from $40. Also, the shares trade at just 12.5x our 2015 EPS estimate, or over a multiple point discount to the peer median.” Simmons First National Corporation closed on Thursday at $35.94.