Argus raised the firm’s price target on Raymond James to $126 from $120 and keeps a Buy rating on the shares. The firm is expecting Q2 revenues to increase in the Private Client and Asset Management segments due to higher valuations at the end of Q1, offset by higher expenses, the analyst tells investors in a research note. Net interest margins at Raymond James Bank are also expected to remain stable near 2.75%-3.00%, helped by Fed rate hikes and the TriState acquisition, the firm added.
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