Bank of America thinks this firm is a fresh alternative for investors looking for a firm well insulated from macroeconomic headwinds.
Bank of America says Raymond James Financial is well protected from macroeconomic headwinds, making it an attractive investment option compared to its peers The firm initiated coverage of Raymond James stock on Monday with a buy rating as well as a $122 per share price target. BofA's forecast implies about 15% upside from Friday's $106.33 close. Raymond James stock is little changed from the start of the year. RJF YTD mountain Raymond James stock.
"RJF has one of the most diversified gross-profit driven business models under our coverage and is positioned well to handle future macro scenarios versus many of its interest-rate dependent peers," McLaughlin said. The analyst added that Raymond James' moves during the Federal Reserve's quantitative easing cycle, prior to interest rate hikes, have helped the firm be prepared for any future liquidity needs.
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