Goldman Sachs analyst James Yaro raised the firm’s price target on Jefferies Financial Group to $48 from $46 and keeps a Conviction Buy rating on the shares. The firm is adjusting its model, increasing its 2025 advisory revenue by 1% to reflect better Dealogic data, and reducing expected 2024 ECM revenue by 1% for weaker ECM, the analyst tells investors in a research note. Goldman Sachs is also increasing its assumed FY25 and FY26 earnings multiple by 0.5-times to 11-times to reflect higher market multiples.
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