Goldman Sachs Resumes Jefferies Group (JEF) at Neutral
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Price: $21.72 --0%
Rating Summary:
1 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
1 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade JEF Now!
Goldman Sachs resumes coverage on Jefferies Group (NYSE: JEF) with a Neutral and $13 price target, suggesting 3% downside.
ROTE constraints limit near-term upside, the firm said.
"Growth in JEF's ROTE (which remained below 10% for the last few quarters) is key to the stock. That said, we think JEF’s returns will be constrained in the near term given (1) focus on keeping leverage below historical levels and the balance sheet below $50 bn; (2) extending the duration of its funding mix, which will add incremental costs; (3) weak operating environment for higher-ROE businesses."
For an analyst ratings summary and ratings history on Jefferies Group click here. For more ratings news on Jefferies Group click here.
Shares of Jefferies Group closed at $12.75 yesterday, with a 52 week range of $9.50-$21.37.
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ROTE constraints limit near-term upside, the firm said.
"Growth in JEF's ROTE (which remained below 10% for the last few quarters) is key to the stock. That said, we think JEF’s returns will be constrained in the near term given (1) focus on keeping leverage below historical levels and the balance sheet below $50 bn; (2) extending the duration of its funding mix, which will add incremental costs; (3) weak operating environment for higher-ROE businesses."
For an analyst ratings summary and ratings history on Jefferies Group click here. For more ratings news on Jefferies Group click here.
Shares of Jefferies Group closed at $12.75 yesterday, with a 52 week range of $9.50-$21.37.
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