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Investing.com - Keefe, Bruyette & Woods raised its price target on Raymond (NSE:RYMD) James (NYSE:RJF) to $170.00 from $167.00 on Friday, while maintaining a Market Perform rating on the financial services company’s stock.
The price target adjustment follows Raymond James’ fiscal third-quarter 2025 results, which showed GAAP earnings per share of $2.12, falling short of KBW’s estimate of $2.20. The company’s adjusted EPS of $2.18 also missed KBW’s projection of $2.26 and came in below the consensus estimate of $2.36.
KBW attributed the earnings miss primarily to a one-time $58 million legal charge recorded in other expenses. Excluding this charge, Raymond James would have reported adjusted pre-tax earnings of $640 million, exceeding KBW’s estimate of $625 million but still below the consensus expectation of $653 million.
Revenue performance exceeded KBW’s forecast, driven by stronger brokerage revenues in the Private Client Group segment and improved results in the Capital Markets division.
KBW cited equity mark-to-market adjustments as a partial reason for raising its forward earnings per share estimates and increasing its 12-month price target on Raymond James stock. According to InvestingPro analysis, the stock appears undervalued, with 9 analysts recently revising their earnings estimates upward. Get access to 7 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Raymond James Financial Inc reported its fiscal third-quarter earnings, with adjusted earnings per share (EPS) of $2.18. This figure fell short of analysts’ expectations of $2.37, marking an 8.02% miss. Despite the earnings miss, the company reported revenue of $3.4 billion, surpassing the projected $3.37 billion. The earnings results were impacted by a one-time legal reserve of $58 million related to a bond underwriting settlement, affecting EPS by approximately $0.21 to $0.29 per share.
Citi raised its price target for Raymond James to $170 from $165, maintaining a Neutral rating. Meanwhile, JMP analyst Devin Ryan reiterated a Market Outperform rating with a $180 price target following the earnings report. These recent developments provide insight into the company’s financial performance and analysts’ perspectives.
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