Argus raised the firm’s price target on Raymond James to $126 from $120 and keeps a Buy rating on the shares. The firm is expecting Q2 revenues to increase in the Private Client and Asset Management segments due to higher valuations at the end of Q1, offset by higher expenses, the analyst tells investors in a research note. Net interest margins at Raymond James Bank are also expected to remain stable near 2.75%-3.00%, helped by Fed rate hikes and the TriState acquisition, the firm added.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RJF:
- Raymond James Financial Reports Fiscal First Quarter of 2024 Results
- Raymond James reports Q1 adjusted EPS $2.40, consensus $2.26
- JPMorgan financial services analysts hold an analyst/industry conference call
- Is RJF a Buy, Before Earnings?
- Raymond James price target raised to $106 from $100 at Morgan Stanley