FBR Capital Maintains a 'Market Perform' on Jefferies Group (JEF); Trending As Expected
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Price: $43.46 --0%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
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FBR Capital maintains a 'Market Perform' on Jefferies Group (NYSE: JEF), PT cut to $23.
FBR analyst says, "Following Jefferies Group's generally in-line 2Q11 results, we are fine-tuning our 2011 EPS estimate to $1.50 from $1.55 and reiterating our 2012 estimate of $1.75. We are also reducing our price target from $25 to $23 to reflect both our lowered 2011 expectations and generally lower valuations across the entire broker/dealer sector. Management has so far implemented and executed a build-out strategy that has added breadth of products and personnel to an already strong franchise. The build-out is translating into midteen EPS growth as fixed-income trading has benefited from a generally strong environment (2Q11 decline aside)."
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.
FBR analyst says, "Following Jefferies Group's generally in-line 2Q11 results, we are fine-tuning our 2011 EPS estimate to $1.50 from $1.55 and reiterating our 2012 estimate of $1.75. We are also reducing our price target from $25 to $23 to reflect both our lowered 2011 expectations and generally lower valuations across the entire broker/dealer sector. Management has so far implemented and executed a build-out strategy that has added breadth of products and personnel to an already strong franchise. The build-out is translating into midteen EPS growth as fixed-income trading has benefited from a generally strong environment (2Q11 decline aside)."
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.
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