Dain Rauscher Upgrades Investors Financial Services
Dain Rauscher upgraded Investors Financial Services (IFIN ) to strong buy from buy.
Analyst Jon Arfstron says the company performed well in a hostile equity market environment. He notes the company processes financial assets for money managers. Arfstron thinks its performance is exceptional with management having done everything they said they would. He believes Investors Financial Services is one of the shining stars of the financial sector, and maybe the whole market in general, to put up such good numbers.
Arfstron says his $1.43 2001 EPS estimates and $1.92 2002 estimates are under review, will probably go up, and management will probably raise the Street's guidance. He thinks the company is a good buy for financial buyers, potentially technology buyers too. He has a $90 12-month target.