Citigroup initiated coverage on Raymond James Financial RJF with a Buy rating and a $44 price target.
Citigroup commented, "Key reasons to own — 1) controllable + outsized EPS growth (18% two-year CAGR) relative to peers, fueled by ~$0.20 p.s. (or 8%) MK-related deal synergies – upward rate cycle would be accretive to our expectations; 2) favorable mix shift into higher margin businesses; 3) Private Client Group (~60% of revenue, ~40% pre-tax income) well positioned for growth; 4) faster loan growth than peers/industry; and, 5) rate play."
Raymond James Financial closed at $38.56 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in