Citi lowered the firm’s price target on LPL Financial to $285 from $325 and keeps a Buy rating on the shares as part of a Q3 preview for the brokers and asset managers. The outlook across the brokerage space has been “tilting negative “driven lower rate expectations for mostly asset sensitive plays and lingering concerns around sweep deposit pricing, the analyst tells investors in a research note. The firm cut earnings estimates by an average of 6% and 7% for the brokers in 2025 and 2026, respectively, excluding Robinhood (HOOD), which saw positive revisions. Citi sees downside risk to consensus estimates for most names, with greatest risk at Charles Schwab (SCHW). The firm continues to like LPL Financial (LPLA).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LPLA:
- LPL Financial: GreenPoint Wealth joins broker-dealer, RIA, custodial platforms
- LPL Financial price target lowered to $271 from $289 at Goldman Sachs
- LPL Financial enters partnership with Zinnia to streamline insurance fulfillment
- LPL Financial: 57th Street Wealth Advisors joins Linsco by LPL Financial
- LPL Financial reports total client cash balances $43.3B at August-end
