UPDATE: Jefferies Lowers Price Target on City National to $41

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According to Jefferies, City National
CYN
Jefferies said that CYN's 3Q EPS missed consensus despite help from securities gains and accelerated accretable yield. “2012 consensus EPS ($3.76) looks aggressive to us (JEF 2012E is $2.90), but the market appears to be pricing this in as a 14x P/E multiple (historical avg.) yields a ~$3 EPS figure for '12.” City National closed on Friday at $39.45.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsJefferies
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