Jefferies Financial price target raised to $74 from $72 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Jefferies Financial (JEF) to $74 from $72 and keeps an Equal Weight rating on the shares. Following the company’s fiscal Q3 report, bulls can point to record Advisory revenue and management sounding increasingly optimistic, while bears can point to a lack of comp leverage despite greater than 20% year-over-year top line growth, the analyst says. The firm expects “a choppy stock reaction given the relatively heightened expectations into the print,” the analyst added.