Raymond James initiated with a Market Perform at BMO Capital

BMO Capital initiated coverage of Raymond James (RJF) with a Market Perform rating and $180 price target A disciplined approach to advisor recruitment has supported earnings quality and consistency, but “the price of that discipline is slower growth,” the analyst tells investors. Growth trails competitors and with “valuations elevated and no clear catalyst,” the outlook depends on Raymond James’ ability to balance discipline with a renewed push for growth, the analyst contends.