Goldman Sachs Downgrades Raymond James Finl to Neutral, Announces $116 Price Target
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Alexander Blostein downgraded Raymond James Financial (RJF) from Buy to Neutral and set a price target of $116.

January 03, 2024 | 9:55 am
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NEGATIVE IMPACT
Goldman Sachs downgraded Raymond James Financial from Buy to Neutral with a $116 price target.
Downgrades by prominent analysts like Goldman Sachs can lead to a negative short-term sentiment among investors, potentially causing a decrease in the stock price. The new price target, while potentially lower than the current trading price, reflects a neutral stance, suggesting limited upside potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Goldman Sachs issued a downgrade for Raymond James Financial to Neutral and set a price target of $116.
While Goldman Sachs is the issuer of the downgrade, the direct impact on its own stock is likely to be minimal as analyst ratings are part of their regular business operations. However, the visibility and influence of their analysis can affect their reputation in the market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50