Stifel Financial price target raised to $74 from $62 at Citi

Citi raised the firm’s price target on Stifel Financial to $74 from $62 and keeps a Neutral rating on the shares ahead of the Q4 report. Rate positioning has remained a dominant theme for the brokers, and shifts in rate expectations will create opportunities in the space, the analyst tells investors in a research note. The firm says client cash allocation behavior is likely to continue to skew to higher yielding instruments and may be permanently altered relative to historical levels. Citi suspects the space “over-reacted a bit” post the Federal Reserve decision in December.