Keefe Bruyette & Woods Rates Portfolio Recovery Associates At Market Perform (PRAA)

Keefe Bruyette & Woods now has a $61 price target on shares of Portfolio Recovery Associates PRAA after the finance company reported a substantial beat in Q2. It rates the company at Market Perform. In the report, Keefe Bruyette & Woods notes, "Event--PRAA reported 2Q10 EPS [ROCK: $1.14, $1.14, $0.92, $0.95]. 2Q10 results were higher compared to our estimate driven by higher revenues than we had forecasted. Raising estimates and price target. In early Monday trading, Portfolio Recovery Associates is up $1.72 to $71.40.