Goldman Sachs Lowers EPS Estimates on Raymond James Financial

Goldman Sachs is out with its report today on Raymond James Financial RJF, lowering its EPS estimates. In a note to clients, Goldman Sachs writes, "We lower our FY3Q11/FY2011 estimates to $0.56/2.47 from $0.59/2.50, but we retain our FY2012/FY2013 estimates at $3.10/3.75 as business trends specific to RJF remain strong and we are optimistic in the firm's ability to attract new assets and banking mandates." Goldman Sachs maintains Buy and a $40 PT on RJF. At the time of posting, shares of RJF were trading at $31.60, down 3.25% from Wednesday's close.