JMP Securities analyst Devin Ryan raised the price target on Stifel Financial (NYSE: SF) to $61.00 (from $60.00) while maintaining a Market Outperform rating following the company's 3Q earnings report. Stifel reported 3Q18 non-GAAP EPS of $1.35, just ahead of consensus of $1.34. The upside was expense driven, as a better comp ratio more than offset a slight revenue shortfall.

2019 guidance comments suggest a wide EPS range potential, but Ryan views assumptions as reasonable, even on the high-end. While the company did not provide all the underlying inputs to its guidance range, a conservative view on the range implies EPS just shy of $5.00.