Analyst Christian Bolu of Credit Suisse downgraded LPL Financial Holdings Inc (NASDAQ:LPLA) to Neutral while maintaining a price target of $28.00.

Bolu stated that the previously upgraded stock showed reduced leverage concerns, given a more conservative capital management stance and continued solid free cash flow generation. With regard to business inflection, the analyst maintains that in 2Q advisory, assets grew +5% yr/yr  in comparison to brokerage -2%. He believes that, “It is prudent at current valuations to acknowledge some of the longer term structural risks facing the company/industry (DoL, price compression, the shift from active to passive investing).”

Christian Bolu is ranked #1,185 out of 4,122 analysts on TipRanks. He maintains a 67% success rate and realizes an average return of 5.8%.