Jefferies Financial price target lowered to $42 from $68 at BMO Capital

BMO Capital analyst Brennan Hawken lowered the firm’s price target on Jefferies Financial (JEF) to $42 from $68 and keeps a Market Perform rating on the shares ahead of its Q1 results. The print is expected to be noisy, with investors focused on the MFS – Market Financial Solutions – fraud allegations and widening First Brands saga, the analyst tells investors in a research note. Persistent negative press around both situations could present potential risk via lost business and pipeline disruption, the firm adds.