Wells Fargo Starts LPL Investment (LPLA) at Market Perform; Macro Environment Overshadows Attractive Business Model

Wells Fargo initiates coverage on LPL Investment (NASDAQ: LPLA) with a Market Perform. PT $27.00.

Wells analyst says, "We like the LPLA story which is supported by the secular move toward independence as well as the company's superior scale, industry-leading technology and high recurring revenues. However, the shares seem fairly valued to us under a weak economic backdrop. We are establishing 2011, 2012 and 2013 adjusted EPS estimates of $1.95, $2.00 and $2.40."

For more ratings news on LPL Investment click here and for the rating history of LPL Investment click here.

Shares of LPL Investment closed at $25.17 yesterday.

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