Raymond James price target raised to $150 from $146 at JMP Securities

JMP Securities raised the firm’s price target on Raymond James (RJF) to $150 from $146 and keeps an Outperform rating on the shares. Raymond James delivered a sizable beat and positive outlook, with expenses that were well contained, and core drivers and commentary from the quarter that bode well for momentum entering FY25, the analyst tells investors in a research note. The firm views shares as attractive and sees conditions improving from here, arguing that several additional levers exist that have not been fully appreciated, including revenue upside from accelerating loan growth and the firm’s potential in a more “normal” Capital Markets recovery, particularly as the firm’s footprint is much larger today than during the prior up-cycle.