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TFS Financial Upgraded To Buy At Sterne Agee

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Sterne Agee has published a research report on TFS Financial Corporation (NASDAQ: TFSL) and has upgraded the company from Neutral to Buy.

In the report, Sterne Agee writes "We upgraded the shares of Third Federal to Buy from Neutral based on a discount valuation relative to potential fully converted tangible book value and significant upside to the shares after the MOU is removed. Along with our upgrade we also established a fiscal 2013 operating EPS estimate of $0.22. Our $12 price target is based on pro-forma tangible book value, earnings, and deposit premium multiples that include the value of a potential second step conversion."

Sterne Agee also has a $12 price target on TFS Financial, which closed Friday at $10.18.

Posted-In: Sterne Agee & Leach tfs financial corporationAnalyst Color Upgrades Price Target Analyst Ratings

 

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