TD Cowen upgraded LPL Financial (LPLA) to Buy from Hold with a price target of $413, up from $277. The analyst sees an “expanded value proposition” under the company’s new leadership and an “attractive hedge” to potential “higher for longer” interest rates. A combination of tighter expense control and further liquidity and succession as a service validation can bolster LPL’s multiple, the analyst tells investors in a research note.
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