UPDATE: D.A. Davidson Upgrades TCF Financial Corporation to Buy, Reiterates $17 PT on Potential For More Predictable Results

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In a report published Friday, D.A. Davidson analyst Stephen Geyen upgraded the rating on
TCF Financial CorporationTCB
from Neutral to Buy, and reiterated the $17.00 price target. In the report, D.A. Davidson noted, “Raising rating to BUY, Maintain $17 price target. We are raising our 2015 EPS estimate to $1.25 from $1.20 and establishing a 2016 EPS estimate of $1.36. The increase in our 2015 estimate is mostly from a lower loan loss provision expense. Our $17 price target is based on a 0.5-pt discounted to peer P/E multiple of 13.6x applied to current year estimates.” TCF Financial Corporation closed on Thursday at $14.74.
Posted In: Analyst ColorUpgradesAnalyst RatingsD.A. DavidsonStephen Geyen
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