Goldman Sachs lowered the firm’s price target on Jefferies Financial (JEF) to $75 from $79 and keeps a Buy rating on the shares ahead of its Q1 results. The company’s Investment banking activity was weaker than expected this quarter, leading to estimate cuts despite its strong M&A completions, the analyst tells investors in a research note. Uncertainty surrounding U.S. policy changes, particularly tariffs and economic growth, has slowed dealmaking, potentially delaying the anticipated investment banking recovery, the firm adds.
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