Market Overview

Piper Jaffray's Take On Brokerages


In a new report, Piper Jaffray initiated coverage on a long list of brokerage stocks. Here’s a breakdown of what analyst Jason Weyenth had to say.

Invesco Ltd. (NYSE: IVZ) - Overweight

Fundamentals are trending in the right direction, and the company is well-diversified and attractively valued.

Janus Capital Group Inc (NYSE: JNS) - Overweight

Improving performance will drive strong earnings growth over the next several years.

Legg Mason Inc (NYSE: LM) - Overweight

Strong global distribution trends, a well-positioned platform and a sizable tax asset-driven capital management business are three of the key positive attributes the company.

WisdomTree Investments, Inc. (NASDAQ: WETF) - Overweight

The stock remains reasonably valued, and it will continue to gain momentum from secular growth in the ETF space.

Apollo Global Management LLC (NYSE: APO) - Overweight

The company has near-term headwinds, but the long-term outlook remains positive.

Blackstone Group LP (NYSE: BX) - Overweight

High expectations and recent outperformance are the only concerns as the company continues to fire on all cylinders.

KKR & Co. L.P. (NYSE: KKR) - Overweight

The launch of second-generation funds will continue to drive asset growth.

Charles Schwab Corp (NYSE: SCHW) - Overweight

The company has a high exposure to rising interest rates and is well-positioned to capitalize on bulk transfers from money funds.

E*TRADE Financial Corp (NASDAQ: ETFC) - Neutral

The company has demonstrated significant strength in its turnaround efforts, but the outperformance of the stock in the past two years has brought it to a fair valuation.

Other Names

In addition to the companies specifically discussed, Piper Jaffray assigned Neutral ratings to TD Ameritrade Holding Corp. (NYSE: AMTD), Franklin Resources, Inc. (NYSE: BEN), BlackRock, Inc. (NYSE: BLK), Eaton Vance Corp (NYSE: EV), Federated Investors Inc (NYSE: FII), T. Rowe Price Group Inc (NASDAQ: TROW) and Waddell & Reed Financial, Inc. (NYSE: WDR).

Latest Ratings for IVZ

Jul 2020CitigroupMaintainsSell
Jul 2020RBC CapitalMaintainsSector Perform
Jul 2020B of A SecuritiesMaintainsNeutral

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Posted-In: Jason Weyenth Piper JaffrayAnalyst Color Initiation Analyst Ratings

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