Argus lowered the firm’s price target on Raymond James (RJF) to $160 from $180 but keeps a Buy rating on the shares. The company’s Q2 EPS was up y/y, reflecting higher asset-management fees and capital markets activity, the analyst tells investors in a research note. Argus warns however that revenues in Q3 will decrease in the Capital Markets segment due to macroeconomic uncertainty and limited growth in the Private Client and Asset Management segments.
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