In a research note published this morning, the analyst feels that Stifel Financial shares are up by almost 30% which is above his estimated target price. Employing a forward P/E of 16.7X, near matches and in line with its past median, S&P has raised their target price by $1. In 2012, the analyst believes trading and brokerage commissions as SF's biggest profit contributors. Considering 63% compensation expense for growth in SF's investment banking business, the S&P Capital IQ EPS estimates for 2012 and 2013 are $2.15 and $2.50, respectively, compared to the Capital IQ consensus of $2.33 and $2.88.