LPL Financial price target raised to $405 from $390 at Wells Fargo

Wells Fargo analyst Michael Brown raised the firm’s price target on LPL Financial (LPLA) to $405 from $390 and keeps an Overweight rating on the shares. The firm cites the company’s EPS beat, led by Advisory fees, commissions, cash sweep, and expenses. Wells believes LPL is set to continue to deliver strong organic growth but with a sharper focus on operating leverage – driving high-teens EPS growth.