Analyst Michael Cyprys of Morgan Stanley maintained a Buy rating on LPL Financial (LPLA – Research Report), boosting the price target to $413.00.
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Michael Cyprys’s rating is based on several positive developments surrounding LPL Financial Holdings Inc. A key reason for the Buy rating is an upward revision of the company’s earnings per share (EPS) forecast for the upcoming quarters, reflecting expectations of improved revenue performance. This optimism is supported by the company’s ability to capitalize on monetization tailwinds and strong net new asset growth, which are anticipated to enhance financial outcomes.
Furthermore, the price target for LPL Financial’s stock has been increased, indicating confidence in its future potential, with a valuation in line with its long-term historical performance. The company is also well-positioned to defend against industry-wide challenges, such as cash sweep inquiries, which bolsters its standing in the market. These factors collectively underscore a favorable outlook, justifying the Buy recommendation.
In another report released on January 31, Citi also maintained a Buy rating on the stock with a $415.00 price target.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LPLA in relation to earlier this year.