BofA lowered the firm’s price target on Raymond James (RJF) to $173 from $176 and keeps a Neutral rating on the shares. The firm, which remains bullish long-term on the online brokers due to multiple factors, is less positive in the near-term due to “a more expensive entry point” combined with the prospects of lower interest rates, the analyst tells investors in a Q3 preview for the group. The firm views Q3 as a “good quarter” for e-brokers, but notes that expectations are high.
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