Jefferies Group (JEF) PT Lowered to $50 at BMO Capital

BMO Capital analyst Brennan Hawken lowered the price target on Jefferies Group (NYSE: JEF) to $50.00 (from $57.00) while maintaining a Market Perform rating.

The analyst commented: "Equities & Non-Comp Beat, Partially Offset by Softer FICC & AM; JEF reported 3Q26 adjusted EPS of $1.08, above our estimate of $1.05 and consensus of $1.00. Preferred dividends were a 3c tailwind vs. consensus, offset by share count (3c headwind), both impacted by SMBC noise. The beat was mainly driven by Equities (12c tailwind) and Other Investment Banking (3c tailwind), which were the substantial revenue beats, partially offset by ECM and FICC (2c and 6c headwinds, respectively). Asset management revenues were light (4c headwind) driven by lower investment return. Expenses were a 7c tailwind, driven by lower non-comp."

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