Goldman Sachs Raises Jefferies Group F4Q10 Estimate

Goldman Sachs has increased its Jefferies Group, Inc. JEF F4Q10 (November year-end) estimate to $0.29 (from $0.25), “though we leave our 2011/2012 estimates unchanged at $1.45/1.65.” Goldman Sachs said that JEF should see particular benefit in its improved banking capabilities and high yield issuance, but fixed income could remain pressured amid a tough muni trading environment, lower rate volatility, and risk off trades in 4Q10. Jefferies Group currently trades at $25.82.