UBS upgraded LPL Financial (LPLA) to Buy from Neutral with a price target of $390, up from $280. The firm expects an acceleration of client asset and cash growth over the coming quarters amid a more bullish environment for wealth management firms. LPL has “multiple avenues from which it can generate industry-leading growth,” most notably being the enterprise space, which is an area that should see consolidation as institutions partner with platforms that can offer superior capabilities, the analyst tells investors in a research note.
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