Keefe, Bruyette & Woods Reiterates Outperform on Jefferies Group (JEF)

Keefe, Bruyette & Woods is out with a research report this morning, where it reiterates its Outperform rating on Jefferies Group JEF; it has a $29.50 price target on the stock. The KBW analysts said that they are maintaining estimates for the company’s fiscal Q3, which ended August 31st. They expect the earnings release will be Sept. 21st or 22nd with a 9am call. They are maintaining their Q3 2010 estimate of $0.30 as well as both their FY 2010 at $1.28 and their FY 2011 at $1.64. They noted, “Our price target remains at $29.50 representing 18x forward EPS. Maintain OP rating.” Jefferies Group, Inc. is an investment bank engaged in equity, convertible debt, and high-yield securities brokerage and trading and investment banking. Jefferies offers advisory, capital raising, mergers and acquisitions, and restructuring services to small- and mid-cap companies, and provides trade execution, research, and asset management to institutional investors.