Jefferies Financial price target raised to $83 from $73 at Oppenheimer

Oppenheimer raised the firm’s price target on Jefferies Financial (JEF) to $83 from $73 and keeps an Outperform rating on the shares after hosting a meeting with CEO Richard Handler and a small group of institutional investors this week. While his themes of course mirrored those of the recent Investor Day, the firm’s key takeaways are that he is optimistic on his outlook for a strong business environment for 2025 and that the company’s hiring spree in recent years will pay good dividends in the stronger market environment. The conversation stayed mainly on Jefferies specific issues, but on the macro outlook he noted a letter that he and President Brian Friedman authored in July saying “there is meaningful demand for companies that are appropriately priced and have strong management, durable business models, and solid long-term prospects.”