UPDATE: Jefferies Reiterates Hold Rating, Raises PT on First Horizon National Corporation on Adjusted '13 EPS Estimate

In a report published Monday, Jefferies analyst Emlen Harmon reiterated a Hold rating on

, and raised the price target from $11.00 to $12.00. In the report, Jefferies noted, “We adjust our '13 EPS est. to $0.74 (from $0.79) and '14 to $0.88 (from $0.91). A higher starting point for share count and a weaker fee outlook are the primary drags, partially offset by faster recognition of expense saves and a higher starting point for NIM.” First Horizon National Corporation closed on Friday at $12.10.