Jefferies Financial price target raised to $67 from $64 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Jefferies Financial to $67 from $64 and keeps an Equal Weight rating on the shares. The three biggest business lines – Advisory, Equities trading and Fixed Income trading – each beat consensus and grew significantly year-over-year, and management is optimistic about the balance of 2024 and outlook for 2025 given a strong pipeline, declining interest rates and pent-up demand for deals, the analyst tells investors. The firm’s FY25 EPS forecast is raised by 5c, or 1%, to $5.03 and it is applying a multiple a half turn higher than its prior multiple to reflect stronger-than-expected growth.