KBW Upgrades Raymond James Financial (RJF) to Outperform
More News related to RJF
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- KBW Upgrades Raymond James Financial (RJF) to Outperform
- UPDATE: Wachovia Downgrades Goldman Sachs (GS) to Market Perform
Keefe, Bruyette, and Woods upgrades Raymond James Financial (NYSE: RJF) from Market Perform to Outperform with a $33 price target.
The firm said, "We believe that the recent slide in RJF has resulted in more near- term upside in the stock than downside. Additionally we recently raised our FY3Q08 EPS estimates by $0.05 on expectations of higher commission and investment banking revenue."
Raymond James Financial, Inc., through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, as well as the sale of mutual funds and other investment products in the United States, Canada, and Europe.
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Disclosure
Please note the disclosure in the note that KBW anticpates receiving investment banking fees from RJF in the next three months. Any analyst worth their salt would be embarassed to put their John Hancock to such a thinly-veiled attempt to prop up the price of yet-another ailing financial.
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Disclosure
tiredofuneducatedposters on Jul 7, 2008 03:43 PMgreyhariedcynic: Fees notwithstanding, if you take the time to research things a little more thoroughly before posting you comments, you might find that RJ as a very conservative investment strategy and consequently has had very little exposure to the sub-prime debacle. Far from being another 'ailing financial' RJ seems to be riding out this particular financial downturn very well. Don't paint every financial institution with the same brush.