Morgan Stanley Maintains Equal-Weight Rating for Raymond James Finl: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating on Raymond James Financial (NYSE:RJF) and increased its price target from $106.00 to $113.00. RJF's shares are currently trading at $113.22, which is slightly above the new target. Raymond James Financial is a financial holding company with over $1.2 trillion in assets under administration as of September 2023, primarily in the U.S. and within its wealth-management segment.
January 29, 2024 | 5:00 pm
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NEUTRAL IMPACT
Morgan Stanley reaffirmed its Equal-Weight rating on RJF and raised the price target to $113. RJF's stock is trading around this new target price, indicating alignment with Morgan Stanley's valuation.
The adjustment in price target by Morgan Stanley is a sign of confidence in RJF's value, aligning closely with its current trading price. This suggests a neutral short-term impact as the market has already priced in the analyst's expectations. The importance is significant as price target changes by major analysts can influence investor perception, but since the new target is very close to the current trading price, the immediate impact on the stock may be limited.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100