Raymond James

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $15 to $125 on a forward P/E of 13.0x our FY 2024 (Sep.) EPS estimate, a slight discount to RJF’s 10-year average (13.8x) as net interest income (NII) headwinds partially offset our expected investment banking (IB) recovery. We raise our FY 2024 EPS by $0.05 to $9.61 and FY 2025’s by $0.16 to $10.14. RJF reported FQ2 adjusted EPS of $2.31 vs. $2.03, in line with consensus. Revenues rose 9% Y/Y, driven by Asset Management (+17% Y/Y), Capital Markets (CM, +14% Y/Y), and Private Client Group (PCG, +9% Y/Y), partially offset by RJ Bank (RJB, -22% Y/Y). PCG benefited from equity market tailwinds with AUM rising to $1.39T vs. $1.17T Y/Y. CM results were a bit weaker than we expected, as […]

Citigroup analyst Christopher Allen maintains Raymond James Finl (NYSE:RJF) with a Neutral and raises the price target from $112 to $132.

By Andrew Welsch Raymond James Financial has cash to spend and it is actively pursuing potential acquisitions, but any deal announcement could still be a long way off, CFO Paul Shoukry said Tuesday. Shoukry, who spoke Tuesday at UBS’ Financial Services Conference in Key Biscayne, Fla., said the wealth management company had hired a new head of corporate development and was “in the flow” with investment bankers. “We are having conversations with firms we have wanted to have conversations with for years,” he said. “But you can’t time these things. Our approach is going out and looking for good cultural fits.” He pointed to the company’s acquisition of U.K.-based Charles Stanley Group as an example of a potential timeline. Raymond James closed the acquisition in 2022, but had its initial conversation with Charles Stanley eight years earlier. “We take a long term approach,” Shoukry said. “We’re thinking three to five

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 0.48% Morgan Stanley $106 → $113 Maintains Equal-Weight 01/25/2024 2.25% UBS $116 → $115 Maintains Neutral 01/10/2024 20.04% JP Morgan $110 → $135 Upgrades Neutral → Overweight 01/09/2024 3.14% UBS $106 → $116 Maintains Neutral 01/09/2024 4.03% Jefferies $112 → $117 Downgrades Buy → Hold 01/04/2024 7.59% TD Cowen → $121 Initiates Coverage On → Market Perform 01/03/2024 3.14% Goldman Sachs → $116 Downgrades Buy → Neutral 10/30/2023 -11.08% Morgan Stanley $110 → $100 Maintains Equal-Weight 10/10/2023 4.92% Jefferies $128 → $118 Maintains Buy 09/22/2023 2.25% Citigroup $120 → $115 Maintains Neutral 09/19/2023 7.59% JP Morgan → $121 Initiates Coverage On → Neutral 09/11/2023 8.48% B of A Securities → $122 Initiates Coverage On → Buy 08/01/2023 -2.19% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/31/2023 -2.19% Morgan Stanley

Morgan Stanley analyst Manan Gosalia maintains Raymond James Finl (NYSE:RJF) with a Equal-Weight and raises the price target from $106 to $113.

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 2.23% UBS $116 → $115 Maintains Neutral 01/10/2024 20.01% JP Morgan $110 → $135 Upgrades Neutral → Overweight 01/09/2024 3.12% UBS $106 → $116 Maintains Neutral 01/09/2024 4.01% Jefferies $112 → $117 Downgrades Buy → Hold 01/04/2024 7.57% TD Cowen → $121 Initiates Coverage On → Market Perform 01/03/2024 3.12% Goldman Sachs → $116 Downgrades Buy → Neutral 10/30/2023 -11.1% Morgan Stanley $110 → $100 Maintains Equal-Weight 10/10/2023 4.9% Jefferies $128 → $118 Maintains Buy 09/22/2023 2.23% Citigroup $120 → $115 Maintains Neutral 09/19/2023 7.57% JP Morgan → $121 Initiates Coverage On → Neutral 09/11/2023 8.45% B of A Securities → $122 Initiates Coverage On → Buy 08/01/2023 -2.21% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/31/2023 -2.21% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/21/2023 -0.44% Morgan Stanley

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: After earnings beat, we raise our target by $12 to $110, using a forward P/E of 11.5x our FY 24 (Sep.) EPS estimate, a slight discount to RJF’s five-year average of 12.7x as a likely recovery within Capital Markets is partially offset by weaker net interest income (NII) in ’24. We raise our FY 24 EPS estimate by $0.25 to $9.56 and start FY 25’s at $9.98. RJF posted FQ1 24 adjusted EPS of $2.40 vs. $2.29, a $0.14 consensus beat. Revenues rose 8% Y/Y on robust growth within Private Clients Group (PCG, +8% Y/Y), Capital Markets (CM, +15% Y/Y), and Asset Management (+14% Y/Y), partially offset by weaker results at RJ Bank (-13% Y/Y). PCG benefited from annualized net new asset growth of 8% and strong

Raymond James Finl (NYSE:RJF) reported quarterly earnings of $2.40 per share which beat the analyst consensus estimate of $2.26 by 6.19 percent. The company reported quarterly sales of $3.01 billion which missed the analyst consensus estimate of $3.06 billion by 1.73 percent. This is a 8.04 percent increase over sales of $2.79 billion the same period last year.

Raymond James Financial Reports Fiscal First Quarter of 2024 Results ST. PETERSBURG, Fla., Jan. 24, 2024 (GLOBE NEWSWIRE) — — Record client assets under administration of $1.37 trillion and record financial assets under management of $215 billion, up 17% and 16%, respectively, over December 2022 — Domestic Private Client Group net new assets(1) of $21.6 billion for the fiscal first quarter, annualized growth from beginning of period assets of 7.8% — Quarterly net revenues of $3.01 billion, up 8% over the prior year’s fiscal first quarter and down 1% compared to the preceding quarter — Quarterly net income available to common shareholders of $497 million, or record $2.32 per diluted share; record quarterly adjusted net income available to common shareholders of $514 million(2), or record $2.40 per diluted share(2) — Annualized return on common equity of 19.1% and annualized adjusted return on tangible common equity of 23.8%(2) for fiscal first

Raymond James Financial (RJF) reported fiscal Q1 adjusted earnings Wednesday of $2.40 per diluted share, up from $2.29 a year earlier. Analysts surveyed by Capital IQ expected $2.26. Revenue for the quarter ended Dec. 31 was $3.01 billion, up from $2.79 billion a year earlier. Analysts surveyed by Capital IQ expected $3.01 billion.

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 4.86% Jefferies $112 → $117 Downgrades Buy → Hold 01/04/2024 8.44% TD Cowen → $121 Initiates Coverage On → Market Perform 01/03/2024 3.96% Goldman Sachs → $116 Downgrades Buy → Neutral 10/30/2023 -10.38% Morgan Stanley $110 → $100 Maintains Equal-Weight 10/10/2023 5.75% Jefferies $128 → $118 Maintains Buy 09/22/2023 3.07% Citigroup $120 → $115 Maintains Neutral 09/19/2023 8.44% JP Morgan → $121 Initiates Coverage On → Neutral 09/11/2023 9.34% B of A Securities → $122 Initiates Coverage On → Buy 08/01/2023 -1.42% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/31/2023 -1.42% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/21/2023 0.38% Morgan Stanley → $112 Assumes → Equal-Weight 06/05/2023 0.38% Jefferies $136 → $112 Maintains Buy 04/28/2023 -3.21% Keefe, Bruyette & Woods $109 → $108 Maintains Market Perform 04/27/2023 -3.21%

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 9.44% TD Cowen → $121 Initiates Coverage On → Market Perform 01/03/2024 4.92% Goldman Sachs → $116 Downgrades Buy → Neutral 10/30/2023 -9.55% Morgan Stanley $110 → $100 Maintains Equal-Weight 10/10/2023 6.73% Jefferies $128 → $118 Maintains Buy 09/22/2023 4.02% Citigroup $120 → $115 Maintains Neutral 09/19/2023 9.44% JP Morgan → $121 Initiates Coverage On → Neutral 09/11/2023 10.35% B of A Securities → $122 Initiates Coverage On → Buy 08/01/2023 -0.51% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/31/2023 -0.51% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/21/2023 1.3% Morgan Stanley → $112 Assumes → Equal-Weight 06/05/2023 1.3% Jefferies $136 → $112 Maintains Buy 04/28/2023 -2.32% Keefe, Bruyette & Woods $109 → $108 Maintains Market Perform 04/27/2023 -2.32% Keefe, Bruyette & Woods $109 → $108 Maintains Market Perform