Raymond James Analyst Turns Bullish, Says Funding Banking To Drive Income Progress (CORRECTED) – Raymond James Finl (NYSE:RJF)

Editor’s observe: The headline of this story has been up to date to take away a misspelled reference to JMP Securities.

Raymond James Monetary, Inc. RJF shares are buying and selling increased Wednesday. Analysts from JMP Securities upgraded the inventory from Market Carry out to Market Outperform and introduced a $146 worth goal.

The Particulars:

JMP Securities famous that Raymond James has considerably elevated its Funding Banking presence with its variety of senior bankers up 37% from 2019 ranges. JMP sees the Funding Banking phase supporting regular income development pushed by elevated conviction from traders in an financial restoration.

JMP additionally sees a “good likelihood” of Raymond James executing on extra merger and acquisition alternatives which aren’t but baked into expectations.

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Raymond James is about to report its fourth-quarter monetary outcomes after the closing bell on Oct. 23. In line with estimates from Benzinga Professional, analysts anticipate the corporate to report earnings of $2.41 per share and quarterly income of $3.312 billion. Raymond James shares are buying and selling above the inventory’s 50-day transferring common of $117.78 and are approaching the inventory’s 52-week excessive of $131.19, in line with Benzinga Professional.

RJF Inventory Prediction 2024:

Fairness analysis generally is a priceless supply of knowledge for studying about an organization’s fundamentals. Analysts create monetary fashions primarily based on the basics and anticipated future earnings of an organization to reach at a worth goal and suggestion for the inventory.

Shares of Raymond James Monetary have a median 1-year worth goal of $134, representing an anticipated upside of 4.56%.

Due to variations in assumptions, analysts can arrive at very completely different worth targets and suggestions. No analysts have bearish suggestions on Raymond James, whereas 3 analysts have bullish scores. The road excessive worth goal from JMP Securities is $146, whereas the road low from Goldman Sachs is $125.

RJF Value Motion: In line with Benzinga Professional, Raymond James Monetary shares are up 2.68% at $128.25 on the time of publication Wednesday.

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