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UBS Reiterates Sell on LPL Financial (LPLA) - Price Target Cut to $23
February 12, 2016 9:19 AM ESTUBS reiterated a Sell rating on LPL Financial (NASDAQ: LPLA), and cut the price target to $23.00 (from $37.00), following the company's 4Q earnings report. Advisor growth and client assets missed expectations, and net new asset growth slowed. UBS does not expect any pick-up, as markets remain choppy and the industry prepares for new DOL rules. Also, while... More
