Bank of America says Raymond James Financial is well protected from macroeconomic headwinds, making it an attractive investment choice compared to its peers. We started with coverage on James’s stock as “buy” and a price target of $122. BofA’s forecast suggests an increase of about 15% from Friday’s closing price of $106.33. Raymond James’ stock price has changed little since the beginning of the year. RJF YTD Mountain Raymond James Stock. Analyst Mark McLaughlin said Raymond James’ diversification and potential ability to weather future macroeconomic headwinds better than peers supported the bullish outlook. “RJF has one of the most diversified, gross margin-driven business models we cover, and is better positioned to navigate future macro scenarios than many of its interest rate-dependent peers,” said McLaughlin. position,” he said. The analyst added that Raymond James’ moves during the Federal Reserve’s quantitative easing cycle before raising interest rates helped the company prepare for future liquidity needs. “RJF has one of the most diversified, gross margin-driven business models we cover, and is well positioned to navigate future macro scenarios compared to many of its interest rate-dependent peers,” he said. “It’s there,” he said. —CNBC’s Michael Bloom contributed to this report.
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