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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RJF:
- Raymond James price target raised to $184 from $176 at Morgan Stanley
- Raymond James Reports Record Client Assets in August
- Raymond James reports August client assets under administration $1.69T
- Raymond James Financial Amends Credit Agreement for Growth
- Raymond James price target raised to $180 from $170 at Citi