TD Cowen initiated coverage of LPL Financial with a Market Perform rating and $224 price target. The company is among the best-in-class in terms of Net New Assets growth, the analyst tells investors in a research note. The firm is also positive on LPL’s widening total addressable markets, SaaS-like optionality, and steady capital return offset by peaking cash sweep contribution and relative sector attractiveness given shifting macro.
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