Truist analyst Andrew Jeffrey raised the firm’s price target on Focus Financial to $50 from $45 and keeps a Buy rating on the shares. The company is well positioned for faster organic revenue growth once market volatility and economic uncertainty subsides, but a potential economic downturn remains a downside risk factor, the analyst tells investors in a research note. Truist further states that it is updating its model to assume higher revenue from market conditions so far in the first quarter offset by a lower EBITDA margin.
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Published first on TheFly
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