Morgan Stanley analyst Michael Cyprys lowered the firm’s price target on LPL Financial (LPLA) to $374 from $447 and keeps an Overweight rating on the shares. Better Q1 earnings for brokers and exchanges should modestly beat consensus, but the firm sees modest forward estimate risk and notes in a preview for the group that its forecasts for the group are now 4%-5% below consensus in 2026-27 on average.
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