Jefferies (NYSE:JEF) EPS, PT Raised by Goldman (NYSE:GS)

Citing improvement in their investment banking segment, Goldman Sachs (NYSE:GS) raised their price target and EPS estimates on Jefferies Group (NYSE:JEF).

Goldman said the "significant progress in its investment bank and stabilization/growth in trading post the relatively weak F3Q10 results," solidified the company.

Even so, Goldman maintains a "Sell" rating on Jefferies, as returns continue to lag about 10 percent below their peers. They trade at trades a premium of 2.1X P/TBV against 1.6x for peers.

Full year EPS estimates were raised from $1.45 to $1.50, and for full year 2012 from $1.65 to $1.70. EPS for 2013 was introduced at $1.90.

Jefferies Group closed Tuesday at $26.67, up $0.43, or 1.64 percent. Goldman raised their price target on them from $22 to $23.