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Fly News Breaks for November 20, 2019
RJF
Nov 20, 2019 | 07:40 EDT
Morgan Stanley analyst Manan Gosalia initiated coverage of Raymond James with an Equal Weight rating and $91 price target, stating that he expect multiples to stay relatively flat with interest rates and market risks skewed to the downside. While the Wealth management business has seen impressive asset growth and recruitment, he has low conviction that market appreciation will be a tailwind to client asset growth going forward, Gosalia stated.
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