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LPL Financial upgraded to Overweight on accelerating growth at Wells Fargo » 06:44
05/18/20
05/18
06:44
05/18/20
06:44
LPLA

LPL Financial

$62.81 /

+1.42 (+2.31%)

, RJF

Raymond James

$61.03 /

-0.86 (-1.39%)

, SF

Stifel Financial

$42.09 /

+0.68 (+1.64%)

As previously reported,…

As previously reported, Wells Fargo analyst Christopher Harris upgraded LPL Financial (LPLA) to Overweight from Equal Weight with a $70 price target. The stock and fellow wealth managers Raymond James (RJF) and Stifel Financial (SF) are down by similar amounts this year, which he views as unfair given that the latter two should have credit quality issues to contend with that LPL does not. While acknowledging low interest rates are a significant headwind, he believes the market is underappreciating LPL's offsetting upside potential from organic growth, Harris tells investors.

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SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

LPLA LPL Financial
$62.81 /

+1.42 (+2.31%)

LPLA LPL Financial
$62.81 /

+1.42 (+2.31%)

05/18/20 Wells Fargo
LPL Financial upgraded to Overweight from Equal Weight at Wells Fargo
04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
04/03/20 Credit Suisse
LPL Financial price target lowered to $59 from $98 at Credit Suisse
03/25/20 Citi
LPL Financial upgraded to Buy from Neutral at Citi
RJF Raymond James
$61.03 /

-0.86 (-1.39%)

05/18/20 Wells Fargo
Wells downgrades Raymond James to Underweight on underappreciated credit risk
05/18/20 Wells Fargo
Wells downgrades Stifel Financial to Underweight on underappreciated credit risk
05/18/20 Wells Fargo
Raymond James downgraded to Underweight from Equal Weight at Wells Fargo
05/01/20 Compass Point
Raymond James downgraded to Neutral after earnings at Compass Point
SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

05/18/20 Wells Fargo
Stifel Financial downgraded to Underweight from Equal Weight at Wells Fargo
05/01/20 Wolfe Research
Stifel Financial downgraded to Peer Perform from Outperform at Wolfe Research
SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

LPLA LPL Financial
$62.81 /

+1.42 (+2.31%)

LPLA LPL Financial
$62.81 /

+1.42 (+2.31%)

Downgrade
Wells downgrades Raymond James to Underweight on underappreciated credit risk » 06:40
05/18/20
05/18
06:40
05/18/20
06:40
RJF

Raymond James

$61.03 /

-0.86 (-1.39%)

As previously reported,…

As previously reported, Wells Fargo analyst Christopher Harris downgraded Raymond James (RJF) to Underweight from Equal Weight with a $61 price target. While he expects loss rates to be much lower compared to the banking industry, he also thinks consensus estimates "may reflect too much optimism" and underappreciate the company's credit quality risks, Harris tells investors. The same rationale supports his downgrade of Stifel Financial (SF) to Underweight as well.

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RJF Raymond James
$61.03 /

-0.86 (-1.39%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

05/18/20 Wells Fargo
Wells downgrades Stifel Financial to Underweight on underappreciated credit risk
05/18/20 Wells Fargo
Raymond James downgraded to Underweight from Equal Weight at Wells Fargo
05/01/20 Compass Point
Raymond James downgraded to Neutral after earnings at Compass Point
05/01/20 Compass Point
Raymond James downgraded to Neutral from Buy at Compass Point
RJF Raymond James
$61.03 /

-0.86 (-1.39%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

Downgrade
Wells downgrades Stifel Financial to Underweight on underappreciated credit risk » 06:39
05/18/20
05/18
06:39
05/18/20
06:39
SF

Stifel Financial

$42.09 /

+0.68 (+1.64%)

, RJF

Raymond James

$61.03 /

-0.86 (-1.39%)

As previously reported,…

As previously reported, Wells Fargo analyst Christopher Harris downgraded Stifel Financial (SF) to Underweight from Equal Weight with a $40 price target. While he expects loss rates to be much lower compared to the banking industry, he also thinks consensus estimates "may reflect too much optimism" and underappreciate the company's credit quality risks, Harris tells investors. The same rationale supports his downgrade of Raymond James (RJF) to Underweight as well.

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SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

05/18/20 Wells Fargo
Stifel Financial downgraded to Underweight from Equal Weight at Wells Fargo
05/01/20 Wolfe Research
Stifel Financial downgraded to Peer Perform from Outperform at Wolfe Research
04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/06/20 Wells Fargo
Wells Fargo cuts price targets for brokers on lower interest rate environment
RJF Raymond James
$61.03 /

-0.86 (-1.39%)

05/18/20 Wells Fargo
Raymond James downgraded to Underweight from Equal Weight at Wells Fargo
05/01/20 Compass Point
Raymond James downgraded to Neutral after earnings at Compass Point
05/01/20 Compass Point
Raymond James downgraded to Neutral from Buy at Compass Point
SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

SF Stifel Financial
$42.09 /

+0.68 (+1.64%)

Downgrade
Raymond James downgraded to Underweight from Equal Weight at Wells Fargo » 05:30
05/18/20
05/18
05:30
05/18/20
05:30
RJF

Raymond James

$61.03 /

-0.86 (-1.39%)

Wells Fargo analyst…

Wells Fargo analyst Christopher Harris downgraded Raymond James to Underweight from Equal Weight with a $61 price target.

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RJF Raymond James
$61.03 /

-0.86 (-1.39%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

05/01/20 Compass Point
Raymond James downgraded to Neutral after earnings at Compass Point
05/01/20 Compass Point
Raymond James downgraded to Neutral from Buy at Compass Point
04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/25/20 Wolfe Research
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research
RJF Raymond James
$61.03 /

-0.86 (-1.39%)

RJF Raymond James
$61.03 /

-0.86 (-1.39%)

Downgrade
Raymond James downgraded to Neutral after earnings at Compass Point » 08:30
05/01/20
05/01
08:30
05/01/20
08:30
RJF

Raymond James

$66.10 /

-5.36 (-7.50%)

As previously reported,…

As previously reported, Compass Point analyst Christopher Allen downgraded Raymond James to Neutral from Buy with a $65 price target following the company's Q2 earnings report. The company "was having a solid quarter on the recruiting front before the virus brought it to a halt," though it noted that there will likely be delays until travel restrictions are lifted and in-person meetings return, said Allen, who also notes that the company said pipelines remain strong and virtual recruiting and onboarding activities are ramped up. While he continues to like the long-term story, he does not see enough expense flexibility to provide much offset to the pressures he sees given the current low rate environment, an uncertain outlook on credit, and headwinds in capital markets and in the Private Client Group.

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RJF Raymond James
$66.10 /

-5.36 (-7.50%)

05/01/20 Compass Point
Raymond James downgraded to Neutral from Buy at Compass Point
04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/25/20 Wolfe Research
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research
03/25/20 Citi
Raymond James upgraded to Neutral from Sell at Citi
Downgrade
Raymond James downgraded to Neutral from Buy at Compass Point » 05:20
05/01/20
05/01
05:20
05/01/20
05:20
RJF

Raymond James

$66.10 /

-5.36 (-7.50%)

Compass Point analyst…

Compass Point analyst Christopher Allen downgraded Raymond James Financial to Neutral from Buy with a $65 price target.

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RJF Raymond James
$66.10 /

-5.36 (-7.50%)

04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/25/20 Wolfe Research
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research
03/25/20 Citi
Raymond James upgraded to Neutral from Sell at Citi
03/24/20 Goldman Sachs
Raymond James downgraded to Sell from Neutral at Goldman Sachs
Earnings
Raymond James reports Q2 EPS $1.20, consensus $1.46 » 17:31
04/29/20
04/29
17:31
04/29/20
17:31
RJF

Raymond James

$71.46 /

+3.23 (+4.73%)

Reports Q2 revenue…

Reports Q2 revenue $2.07B, consensus $2.01B. "I am proud of our associates and advisors for their remarkable response during this time of extreme market volatility and economic turmoil," said Reilly. "Supported by a robust technology platform, advisors and support associates were able to transition to working remotely and provide continued service for their clients. Our financial advisor recruiting pipeline remains strong despite an initial pause in activity given nationwide shelter-in-place orders, but we are now leveraging virtual capabilities to resume critical parts of the recruiting process such as home office visits and advisor transitions."

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RJF Raymond James
$71.46 /

+3.23 (+4.73%)

04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/25/20 Wolfe Research
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research
03/25/20 Citi
Raymond James upgraded to Neutral from Sell at Citi
03/24/20 Goldman Sachs
Raymond James downgraded to Sell from Neutral at Goldman Sachs
Over a month ago
Recommendations
Broker sector has plenty of fundamental challenges, says Wells Fargo » 06:39
04/06/20
04/06
06:39
04/06/20
06:39
ETFC

E-Trade

$34.28 /

-0.01 (-0.03%)

, IBKR

Interactive Brokers

$42.60 /

-1.69 (-3.82%)

, LPLA

LPL Financial

$48.71 /

-2.75 (-5.34%)

, RJF

Raymond James

$57.46 /

-2.38 (-3.98%)

, SF

Stifel Financial

$34.97 /

-3.71 (-9.59%)

, AMTD

TD Ameritrade

$34.85 /

-0.77 (-2.16%)

, SCHW

Charles Schwab

$33.61 /

-0.78 (-2.27%)

Wells Fargo analyst…

Wells Fargo analyst Christopher Harris says he is less constructive on Q1 broker results vs. his prior expectation as he factors in weaker equity markets, lower interest rates and higher credit costs among other factors. Group valuations appear attractive, Harris says, adding that he does not think that is reason enough to be positive on this group. The analyst keeps his ratings on the stocks, and lowers his price target for E-Trade (ETFC) to $35 from $45, for Interactive Brokers (IBKR) to $37 from $39, for LPL Financial (LPLA) to $54 from $72, for Raymond James (RJF) to $62 from $81, for Stifel (SF) to $38 from $56, for TD Ameritrade (AMTD) to $36 from $38 and for Charles Schwab (SCHW) to $33 from $38.

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ETFC E-Trade
$34.28 /

-0.01 (-0.03%)

03/06/20 Wells Fargo
Wells Fargo cuts price targets for brokers on lower interest rate environment
02/27/20 UBS
E-Trade downgraded to Neutral from Buy at UBS
02/26/20 Raymond James
E-Trade downgraded at Raymond James following sale announcement
02/26/20 Raymond James
E-Trade downgraded to Market Perform from Outperform at Raymond James
IBKR Interactive Brokers
$42.60 /

-1.69 (-3.82%)

10/03/19 Wells Fargo
Wells Fargo downgrades E-Brokers after material commission cuts
10/02/19
Fly Intel: Top five analyst upgrades
10/02/19 Compass Point
Interactive Brokers upgraded to Buy from Neutral at Compass Point
LPLA LPL Financial
$48.71 /

-2.75 (-5.34%)

04/03/20 Credit Suisse
LPL Financial price target lowered to $59 from $98 at Credit Suisse
03/25/20 Citi
LPL Financial upgraded to Buy from Neutral at Citi
03/24/20 Goldman Sachs
LPL Financial upgraded to Conviction Buy from Buy at Goldman Sachs
03/12/20 Compass Point
LPL Financial upgraded to Buy from Neutral at Compass Point
RJF Raymond James
$57.46 /

-2.38 (-3.98%)

03/25/20 Wolfe Research
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research
03/25/20 Citi
Raymond James upgraded to Neutral from Sell at Citi
03/24/20 Goldman Sachs
Raymond James downgraded to Sell from Neutral at Goldman Sachs
SF Stifel Financial
$34.97 /

-3.71 (-9.59%)

01/09/20 Wells Fargo
Stifel Financial price target raised to $68 from $60 at Wells Fargo
10/04/19 Wells Fargo
Wells cuts estimates and targets for LPL Financial, Raymond James, Stifel
05/30/19 Compass Point
Stifel Financial initiated with a Buy at Compass Point
AMTD TD Ameritrade
$34.85 /

-0.77 (-2.16%)

03/25/20 Citi
TD Ameritrade upgraded to Buy from Neutral at Citi
03/04/20 Citi
Raymond James downgraded to Sell from Neutral at Citi
01/28/20 Deutsche Bank
Deutsche Bank initiates 'Buy Catalyst Call' on Charles Schwab
SCHW Charles Schwab
$33.61 /

-0.78 (-2.27%)

03/25/20 Citi
Charles Schwab upgraded to Buy from Neutral at Citi
03/23/20 BofA
BofA cuts Apollo, Carlyle, AllianceBernstein and upgrades Charles Schwab
03/23/20 BofA
Charles Schwab upgraded to Buy from Neutral at BofA
Downgrade
Raymond James downgraded to Peer Perform from Outperform at Wolfe Research » 08:29
03/25/20
03/25
08:29
03/25/20
08:29
RJF

Raymond James

$59.37 /

+4.21 (+7.63%)

Wolfe Research analyst…

Wolfe Research analyst Steven Chubak downgraded Raymond James to Peer Perform from Outperform.

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RJF Raymond James
$59.37 /

+4.21 (+7.63%)

03/25/20 Citi
Raymond James upgraded to Neutral from Sell at Citi
03/24/20 Goldman Sachs
Raymond James downgraded to Sell from Neutral at Goldman Sachs
03/06/20 Wells Fargo
Wells Fargo cuts price targets for brokers on lower interest rate environment
03/06/20 Wells Fargo
Raymond James downgraded at Wells Fargo on lower interest rate environment
Upgrade
Raymond James upgraded to Neutral from Sell at Citi » 06:51
03/25/20
03/25
06:51
03/25/20
06:51
RJF

Raymond James

$59.37 /

+4.21 (+7.63%)

Citi analyst William Katz…

Citi analyst William Katz upgraded Raymond James Financial to Neutral from Sell with a price target of $60, down from $71. In a retail broker/dealer sector note titled "Nowhere To Go But Up?," Katz moved from a long-standing negative sector view to a positive stance.

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RJF Raymond James
$59.37 /

+4.21 (+7.63%)

03/24/20 Goldman Sachs
Raymond James downgraded to Sell from Neutral at Goldman Sachs
03/06/20 Wells Fargo
Wells Fargo cuts price targets for brokers on lower interest rate environment
03/06/20 Wells Fargo
Raymond James downgraded at Wells Fargo on lower interest rate environment
03/06/20 Wells Fargo
Raymond James downgraded to Equal Weight from Overweight at Wells Fargo

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