KBW Moves DUF Target To $20

Duff & Phelps Corp. DUF reported a 4Q10 EPS of $0.25 “ahead of our $0.23 on higher IBK revs. due to high proportion of success fees; recall mgmt. communicated to the Street that could be a record qtr. but still better,” KBW reports. “Introducing qtly 2011 est. and adjusting full year which now also reflect some higher exp. as we believe mgmt will be investing in the franchise and raising brand awareness which we like,” KBW writes, adding that it has moved its PT to $20. Duff & Phelps Corp. closed Wednesday at $16.35.