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Investing.com - TD Cowen raised its price target on LPL Financial Holdings (NASDAQ:LPLA) to $410.00 from $356.00 on Monday, while maintaining a Hold rating on the stock. This new target aligns closely with the broader analyst range, which spans from $356 to $504 according to InvestingPro data, with LPLA currently trading at $373.81.
The price target increase follows what TD Cowen described as a "sizable, expense-led" third-quarter earnings beat reported on October 30, along with a "constructive" post-earnings conference call. This positive sentiment is reflected in InvestingPro data showing 4 analysts have revised their earnings expectations upward for the upcoming period.
TD Cowen cited reduced concerns about LPL Financial’s ability to reach the 90% CFN AUM retention rate and noted that the long-term net new asset flow story should improve modestly, with capital flexibility expected to reaccelerate looking ahead to 2027.
The firm raised its 2025-2027 adjusted earnings per share estimates and lifted its target multiple to approximately 14.5x from 13.5x previously, reflecting lower CFN-related execution risk.
LPL Financial shares jumped more than 11% on October 31, which TD Cowen suggested had "shook out the bearish views" on the stock.
In other recent news, LPL Financial reported strong third-quarter results with adjusted earnings per share of $5.20, surpassing consensus estimates of $4.50 and marking a 15.5% increase. The company also achieved revenue of $4.5 billion, exceeding expectations by 5.0%. In the second quarter of 2025, LPL Financial recorded an adjusted earnings per share of $4.51, slightly above the forecast of $4.49, and a gross profit of $1.304 billion. These robust earnings have prompted analyst actions, with Goldman Sachs raising its price target for LPL Financial to $421 and increasing earnings per share estimates for 2025, 2026, and 2027. Similarly, Citizens raised its price target to $475, maintaining a Market Outperform rating. Looking ahead, LPL Financial plans to reduce fees and simplify its pricing structure across advisory platforms, effective July 2026. The firm will lower fees for advisors in its Strategic Asset Management and Model Wealth Portfolios, while also cutting end-client fees in its Guided Wealth Portfolios digital advice platform.
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