Bank of America says Raymond James Financial is well protected from macroeconomic headwinds, making it an attractive investment option compared to its peers The firm initiated coverage of Raymond James stock on Monday with a buy rating as well as a $122 per share price target.
Raymond James stock is little changed from the start of the year.
RJF YTD mountain Raymond James stock.
Analyst Mark McLaughlin says Raymond James' diversification and potential ability to navigate future macroeconomic headwinds better than its peers underpinned the bullish outlook.
The analyst added that Raymond James' moves during the Federal Reserve's quantitative easing cycle, prior to interest rate hikes, have helped the firm be prepared for any future liquidity needs.
Persons:
Raymond James Financial, Raymond James, Mark McLaughlin, RJF, McLaughlin, — CNBC's Michael Bloom
Organizations:
of America