Jefferies Financial price target raised to $66 from $64 at Oppenheimer

Oppenheimer analyst Chris Kotowski raised the firm’s price target on Jefferies Financial to $66 from $64 and keeps an Outperform rating on the shares. Jefferies will remain a steady share gainer in the investment banking industry, the analyst tells investors in a research note. The firm says investment banking activity is cyclically low and “poised for a recovery.” Opco views Jefferies as a top pick, saying it values the company halfway between the “bulge” investment banks and the merger and acquisition boutiques.