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Fly News Breaks for July 11, 2019
JEF
Jul 11, 2019 | 05:10 EDT
Keefe Bruyette analyst Michael Brown assumed coverage of Jefferies Financial Group with a Market Perform rating and $23 price target. Despite its simplification actions, the company's business model has retained a high level of complexity and remains highly-cyclical due to its close ties to the health of capital markets, Brown tells investors in a research note. He believes investors need to see consistent results and a clearer path to higher returns before investors give Jefferies full credit for the transformation .
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