SEI Investments price target raised to $120 from $118 at Raymond James

Raymond James analyst Patrick O’Shaughnessy raised the firm’s price target on SEI Investments (SEIC) to $120 from $118 and keeps an Outperform rating on the shares. The deal pipeline remains robust despite sales results declining in Q2, and the firm expects net recurring sales activity to re-accelerate in Q3, the analyst tells investors in a research note. Improving sales activity and expense discipline should translate into a path toward substantial long-term margin expansion, the firm says.