In a report released yesterday, Chris Kotowski from Oppenheimer maintained a Buy rating on Jefferies (NYSE: JEF), with a price target of $35. The company’s shares closed yesterday at $23.65.
Kotowski said:
“Until earlier this week, when another major broker-dealer initiated coverage on $29 target, we were the only sell-side firm covering the stock. While we normally do not comment on other analysts’ reports, we were glad to see this one because it is the most visible and concrete step forward in our thesis that the shares will be revalued as JEF “gains more of a following on both the buy-side and the sell- side” as a result of refocusing as a financial services company (see our Bank…, dated April 10, 2018). The shares reacted favorably, but the stock is still at just 92% of TBV, indicating that this thesis still has a long way to play out.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.6% and a 69.4% 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 $32, implying a 35.3% upside from current levels. In a report released yesterday, KBW also initiated coverage with a Buy rating on the stock with a $29 price target.
.
See today’s analyst top recommended stocks >>
Based on Jefferies’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $78.91 million. In comparison, last year the company had a net profit of $58.99 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
