Citi analyst William Katz on Friday added LPL Financial to his firm's U.S. Focus List and raised his price target for the shares to $90 from $80. The analyst sees a "strong step up in earnings power" looking into 2019 and thinks shares have more room to run. He thinks the multiple can expand and keeps a Buy rating on LPL.

LPL Financial announced that financial advisors Alejandro "Alex" De Leon and Robert "Bob" Gorman have joined LPL Financial's broker-dealer, RIA and custodial platforms. They reported having served approximately $200 million in advisory, brokerage and retirement plan assets, and join LPL from Wells Fargo Advisors. Headquartered in Corpus Christi, Texas, De Leon and Gorman were colleagues in the same office for years before deciding to team up to start their own independent practice. After more than a year of planning, sharing ideas and many redlining lunches, the team - who share more than five decades of wealth management experience - launched Spotlight Financial. De Leon and Gorman say their new firm will provide an elevated client experience with a focus on financial education and transparency.