In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on Jefferies (JEF), with a price target of $30. The company’s shares opened today at $19.87.
Kotowski said:
“We had the chance to host a meeting with a group of institutional investors in London earlier this week. Friedman’s comments mainly focused on the strategic direction for Jefferies the investment bank and the value that it is working to create in other assets and were mainly elaborations on the recently published 2018 (November FY) results and the accompanying detailed shareholder letter. However, given that the stock slid 27% in December and still trades at just 80% of TBV, we started out with the “elephant in the room,” which is that the market worries about Jefferies’ leveraged lending business.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 8.2% and a 57.4% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
Jefferies has an analyst consensus of Moderate Buy, with a price target consensus of $30.
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The company has a one-year high of $28.11 and a one-year low of $16.20. Currently, Jefferies has an average volume of 2.54M.
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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.
