Raymond James price target raised to $170 from $145 at Citi

Citi analyst Christopher Allen raised the firm’s price target on Raymond James (RJF) to $170 from $145 and keeps a Neutral rating on the shares as part of a 2025 outlook for the brokers and asset managers. The focus in the brokerage space has shifted from cash balances and rate expectations to “surging retail activity and growth trends after positive equity market tailwinds post-election,” the analyst tells investors in a research note. The firm believes the group has priced in continued growth from here and wants to “continue to be selective after the moves we have seen.” Interactive Brokers (IBKR) remains Citi’s favorite name given its customer and regional diversity and competitive advantages.