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Fly News Breaks for July 27, 2018
RJF
Jul 27, 2018 | 09:56 EDT
As previously reported, JMP Securities analyst Devin Ryan upgraded Raymond James to Outperform from Market Perform as he believes the current valuation is not appropriately reflecting its future growth and potential catalysts. He sees no sign of organic growth slowing and believes about 5%-10% of its market cap is excess capital that could be used for an acquisition over the next couple years, Ryan tells investors. He set a $110 price target on Raymond James shares.
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