Goldman Sachs analyst Alexander Blostein lowered the firm’s price target on LPL Financial to $271 from $289 and keeps a Buy rating on the shares. Following the Federal Reserve’s 50 bias point rate cut and the subsequent shift lower in forward rates, the firm revisited its sensitivity analysis across brokers and trust banks. It lowered earnings estimates across the group.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LPLA:
- LPL Financial enters partnership with Zinnia to streamline insurance fulfillment
- LPL Financial: 57th Street Wealth Advisors joins Linsco by LPL Financial
- LPL Financial reports total client cash balances $43.3B at August-end
- LPL Financial: Bury Financial joins broker-dealer, RIA, custodial platforms
- LPL Financial expands to Tempe