Wunderlich Securities Reiterates IBERIABANK Buy, $70 PT (IBKC)

Wunderlich Securities reiterated its IBERIABANK IBKC Buy rating and $70 price target in a research report published today. In the report, Wunderlich Securities states, "The company's 1Q11 operating results beat consensus by $0.07 and matched our $0.58 estimate. Relatively solid loan and core deposit growth, along with NIM expansion from excess capital deployment, should continue to give IBKC momentum throughout 2011, with EPS accretion from pending acquisitions providing additional support." Shares of IBERIABANK were trading at $59.36 at the time of posting, up 1.64% from Tuesday's market close.