FBR Capital Reiterates an 'Outperform/Top Pick' on Raymond James (RJF); Investor Day Highlights the Stock's Upside

FBR Capital maintains an 'Outperform/Top Pick' on Raymond James (NYSE: RJF), PT $45.

FBR analyst says, "We believe that the operating leverage at Raymond James is underappreciated, and we expect RJF stock to outperform, absent any material multiple expansion due to improved earnings as the operating environment becomes more favorable, particularly, financial advisor production and investment banking activity. Although some investors continue to shy away from Raymond James due to the bank's credit exposure, we believe the bank continues to de-risk and remains well reserved. In our opinion, the long-term earnings leverage in the private client group and capital markets segment largely outweighs the risk of future losses at the bank, which we view as relatively modest."

For more ratings news on Raymond James click here and for the rating history of Raymond James click here.

Shares of Raymond James closed at $34.32 yesterday.

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