UPDATE: Credit Suisse Initiates Coverage on LPL Financial
In a report published Wednesday, Credit Suisse analyst Christian Bolu initiated coverage on LPL Financial Holdings (NASDAQ: LPLA) with a Neutral rating, establishing a $51.00 price target.
According to the report, the Neutral rating is based on relative return prospects of their price target.
“As the largest independent broker-dealer financial advisor platform in the U.S., LPL is the scale player in a vast but fragmented industry with significant opportunities to be the acquirer of choice,” the report noted. “In addition we see LPL as a play on retail engagement & rising interest rates–two of the likely dominant macro themes over the next few years. That said, at current prices, we believe shares as fully valued.”
Some highlights from the report included:
-Strong EPS Growth Prospects -Attractive Financial Model
LPLA closed Tuesday at $52.30 with shares trading up at 1.24 percent.
Latest Ratings for LPLA
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