Michael Brown, an analyst from Wells Fargo, maintained the Buy rating on Stifel Financial (SF – Research Report). The associated price target is $135.00.
Michael Brown has given his Buy rating due to a combination of factors including Stifel Financial’s strong investment banking pipeline and the resilience shown in client asset management despite recent market challenges. Although there was a slight decrease in client assets and cash balances in February, these trends were consistent with broader market movements, suggesting that Stifel’s performance is aligned with industry standards.
Additionally, while the investment banking revenue guidance for the first quarter of 2025 was below expectations, it is important to note that this was anticipated given the current industry climate. The firm has demonstrated a capacity for growth with a year-over-year increase in money market and insured product balances. These factors, combined with the potential for future growth, underpin the Buy rating.