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UPDATE: D.A. Davidson Upgrades TCF Financial 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 Corporation (NYSE: TCB) 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 closed on Thursday at $14.74.

Latest Ratings for TCB

DateFirmActionFromTo
Jan 2017DowngradesBuyHold
Dec 2016Initiates Coverage OnNeutral
Dec 2016MaintainsOverweight

View More Analyst Ratings for TCB
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Stephen GeyenAnalyst Color Upgrades Analyst Ratings

 

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