UPDATE: Barrington Research Initiates Ladenburg Thalmann Financial Services at Outperform

Barrington Research initiated coverage on Ladenburg Thalmann Financial Services

with an Outperform rating and a $2.25 price target. Barrington Research commented, "With … acquisitions, Ladenburg Thalmann Financial Services has established a top-10 leadership position in the independent broker-dealer industry. The strategy, in place since 2007, has been to combine the more stable and recurring revenue and cash flows of the independent broker-dealer (IBD) business with the more volatile and cyclical (but strongly profitable in good market conditions) capital markets group, making it unique among other IBDs." Ladenburg Thalmann Financial Services closed at $1.32 on Tuesday.