Keefe, Bruyette, & Woods is out with a research report this morning, where it reiterates its Outperform rating on Stifel Financial SF; it has a $60.00 price target on the stock.
The KBW analysts cited the company’s recent earnings report, which was solid by all accounts. The analysts noted that the difference between reported and operating income was a $5 million charge related to the acquisition of Thomas Weisel, which closed on 7/1/10.
The analysts noted that, on an operating basis, SF reported a $0.01 beat to consensus, and an in-line quarter vs. their expectations on record quarterly net revenues of $328 million, which were up 5.1% sequentially and 25.4% year over year.
Stifel Financial is a mid-sized regional brokerage firm headquartered in St. Louis, Missouri. The company has four business segments: Private Client Group; Equity Capital Markets; Fixed Income Capital Markets; and a Bank & Trust Unit.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsFinancialsInvestment Banking & BrokerageKeefe Bruyette & Woods
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