Ticonderoga Reiterates a 'Buy' on Jefferies Group (JEF); Differentiated I-bank - Lowering 2011, Raising 2012

Ticonderoga reiterates a 'Buy' on Jefferies Group (NYSE: JEF), PT $26.

Ticonderoga analyst said, "We are lowering our 2011 estimate to $1.58 from $1.70 to reflect softer debt and equity markets. We are raising our 2012 estimate to $1.80 from $1.70 to reflect synergies from Bache. Our revised target is $26 or 1.6x estimated year end book value."

"Bottom Line. JEF is differentiated in this industry. They are hiring not firing, growing revenues, making acquisitions not deleveraging, and maintain a much higher mix of lower risk revenues."

For more ratings news on Jefferies Group click here and for the rating history of Jefferies Group click here.

Shares of Jefferies Group closed at $21.35 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• UBS Reiterates Buy Rating on HF Sinclair (DINO)
• KinderCare Learning Companies (KLC) PT Lowered to $4.50 at UBS