JPMorgan upgraded Raymond James to Overweight from Neutral with a price target of $135, up from $110. The analyst believes Raymond’s diversified earnings strength will begin to emerge as the operating backdrop firms. Stabilizing confidence in the macro backdrop could drive benefit for the Private Client Group business and potentially bottoming trends in capital markets activity “will serve as an incremental tailwind,” the analyst tells investors in a research note. The firm sees an attractive risk/reward setup in the shares.
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Read More on RJF:
- Raymond James downgraded to Hold from Buy at Jefferies
- Raymond James initiated with a Market Perform at TD Cowen
- Raymond James price target raised to $125 from $118 at Wolfe Research
- Raymond James downgraded to Neutral from Buy at Goldman Sachs
- Raymond James reports November assets under administration $1.32T, up 9% y/y
