Focus Financial upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst James Fotheringham upgraded Focus Financial to Outperform from Market Perform with an unchanged $53 price target. The analyst cites the company’s Q4 revenue-driven beat, also stating that while markets remain turbulent, Focus Financial continues to benefit from a variable expense base, recurring fee-based revenues, and earnings preference deal structures. The company also provided encouraging near-term guidance and reported deal momentum well ahead of last year’s pace, the firm tells investors in a research note.