UPDATE - Ticonderoga Downgraded Raymond James (RJF) to Neutral; Great Run, Moving Toward Fair Value
Tweet
Share
E-mailGet Alerts RJF Hot Sheet
Price: $175.20 +1.65%
Rating Summary:
9 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UPDATE - Ticonderoga downgraded Raymond James (NYSE: RJF) from Buy to Neutral.
Ticonderoga analyst says, "RJF is approaching our target price of $40. While we generally remain constructive, several positive events have come and have now worked themselves into the stock. RJF is now ~15x our calendar 2011 EPS estimate of $2.59."
"We believe the next major earnings catalysts will be a rise in interest rates. Currently, fed funds futures are not pricing in a 25 basis point increase until Q1/Q2 2012. RJF recently indicated that all else equal, a 100 bps increase in rates would add ~$0.40 to EPS. We believe the recent increase in oil, if maintained, may drive a slowdown in equity flows (domestic flows were negative last week for the first time in 7 weeks) and further push out interest rate hikes (as oil will already act as a tightening). In order to maintain a Buy at these levels, we need to believe rates are going up soon and retail activity is only going to get stronger. We do not."
To see all upgrades/downgrades on shares of RJF, visit our Analyst Ratings page.
Ticonderoga analyst says, "RJF is approaching our target price of $40. While we generally remain constructive, several positive events have come and have now worked themselves into the stock. RJF is now ~15x our calendar 2011 EPS estimate of $2.59."
"We believe the next major earnings catalysts will be a rise in interest rates. Currently, fed funds futures are not pricing in a 25 basis point increase until Q1/Q2 2012. RJF recently indicated that all else equal, a 100 bps increase in rates would add ~$0.40 to EPS. We believe the recent increase in oil, if maintained, may drive a slowdown in equity flows (domestic flows were negative last week for the first time in 7 weeks) and further push out interest rate hikes (as oil will already act as a tightening). In order to maintain a Buy at these levels, we need to believe rates are going up soon and retail activity is only going to get stronger. We do not."
To see all upgrades/downgrades on shares of RJF, visit our Analyst Ratings page.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
Create E-mail Alert Related Categories
DowngradesRelated Entities
Raymond James, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
