Oppenheimer analyst Chris Kotowski maintained a Buy rating on Jefferies (JEF) today and set a price target of $30. The company’s shares opened today at $20.27.
Kotowski said:
“Jefferies reported 4Q18 earnings on January 10 with all the key data points in a shareholder letter, and then filed its 10-K on January 29. We published our analysis of the 4Q18 results on January 10 (link here), and we stand by our conclusions in that report, but the publication of the 10-K is leading us to re-cast our model. Recall that there were a number of changes from the way Jefferies previously arranged its disclosure: (1) Leucadia Asset Management (“LAM”) and the Berkadia mortgage banking operations were moved from an “Other Financial Services Businesses” section into Jefferies Group (i.e., the investment bank). (2) the Other Financial Services category was therefore discontinued.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 9.9% and a 61.8% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Goldman Sachs Group Inc.
Currently, the analyst consensus on Jefferies is a Moderate Buy with an average price target of $30.
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Jefferies’ market cap is currently $6.65B and has a P/E ratio of 54.39. The company has a Price to Book ratio of 0.63.
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Jefferies Financial Group, Inc. is a holding company. It engages in investment banking and capital markets; commercial mortgage banking, online foreign exchange trading services, real estate, vehicle finance, beef processing; manufacturing; exploration and development of oil and gas; automobile dealerships, insurance and consumer products, gold and silver mining project and asset management. The company operates through the following business segments: Jefferies, National Beef, and Corporate and Other. The Jefferies segment provide integrated securities and investment banking services. The National Beef segment processes and markets fresh boxed beef, case-ready beef, beef by-products and wet blue leather for domestic and international markets. The Corporate and Other segment includes other financial instruments. Jefferies Financial Group was founded in 1968 and is headquartered in New York, NY.
