TD Cowen initiated coverage of Stifel Financial with an Outperform rating and $83 price target. The firm has also given the stock a Top Pick designation. The company is the firm’s favorite broker-dealer and looks to be well positioned to participate in upturn in capital markets, with high incremental margins, the analyst tells investors in a research note. Stifel also has several favorable capital deployment opportunities, notably elevated repurchase, potentially faster than modeled IEA upturn and eventually strategic M&A, the firm adds.
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