Raymond James (RJF) PT Raised to $152 at BofA Securities
BofA Securities analyst Mark McLaughlin raised the price target on Raymond James (NYSE: RJF) to $152.00 (from $136.00) while maintaining a Buy rating.
The analyst comments "RJF reported adj. EPS of $2.95 (vs. $2.52 BofA / $2.43 cons), growing 38% y/y driven by a sizable uptick in capital markets activity as the market environment has become more supportive of closings. We remain optimistic of continued strength in CM given the conducive macro environment, prior suppressed activity, and recent investments made into the business with mgmt. continuing to mention a healthy pipeline. NNAs were robust (+5% annualized excl. $3B OSJ offboarding) but still below prior ‘22/23 levels (+7- 8%). While 1Q will include an additional $5B of outflows related to the OSJ offboarding, we still expect NNAs to reaccelerate towards a +5-7% normalized rate next year."