Northland Securities Reaffirms Their Buy Rating on Piper Jaffray Companies (PJC)


Northland Securities analyst Michael Grondahl maintained a Buy rating on Piper Jaffray Companies (PJC) today and set a price target of $89. The company’s shares closed yesterday at $73.90.

Grondahl wrote:

“We believe PJC with roughly 50% of revenue in M&A/Advisory, faced a little headwind. Note the softness in M&A with global $ volume down 10% y/y with transactions down 10% y/ y based on data from S&P Global. We note in the $100M-$1B transaction size market that $ volume was down 8% y/y and transactions were down 16% y/y.”

According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 19.4% and a 58.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Thunder Bridge Acquisition Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Piper Jaffray Companies with a $89 average price target.

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The company has a one-year high of $82.52 and a one-year low of $60.49. Currently, Piper Jaffray Companies has an average volume of 88.33K.

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Piper Jaffray Cos. is an investment bank and asset management firm, which engages in the provision of equity and debt capital markets products; public finance services; financial advisory services; equity research and institutional brokerage; fixed income institutional brokerage; and asset management services.

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