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Jefferies Financial price target lowered to $44 from $49 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Jefferies Financial (JEF) to $44 from $49 and keeps an Equal Weight rating on the shares. The stock “needed a clear beat” to remove the overhang from macro-driven and credit/legal risks, says the analyst, who believes the “noisy quarter” is unlikely to shift positioning.

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