Jefferies Financial Group

JEF · NYSE

$45.01+$1.41 (+3.23%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $43.60

JEF analyst rating

HoldConsensus of 5 analysts over the last 12 months. 40% rate it a buy.

Strong buy0
Buy2
Hold3
Underperform0
Sell0

12-month price target · 6 analysts

Average $58.55 (+30.1% upside)

Low: $49.49
Now: $45.01
High: $74.55

Upgrades and downgrades

The latest rating actions, newest first

JEF analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Oppenheimer	Sep 29, 2026	Maintains	Outperform	$76.00 → $71.00	67%
Morgan Stanley	Sep 29, 2026	Maintains	Equal-Weight	$50.00 → $49.00	40%
Goldman Sachs	Sep 29, 2026	Maintains	Buy	$67.00 → $57.00	50%
BMO Capital	Sep 29, 2026	Maintains	Market Perform	$57.00 → $50.00	56%
UBS	Sep 11, 2026	Maintains	Neutral	$65.00 → $61.00	43%
BMO Capital	Sep 11, 2026	Maintains	Market Perform	$60.00 → $57.00	56%
UBS	Jun 25, 2026	Maintains	Neutral	$67.00 → $65.00	43%
Oppenheimer	Jun 25, 2026	Maintains	Outperform	$87.00 → $83.00	67%
UBS	Jun 18, 2026	Downgrade	Buy → Neutral	$59.00 → $67.00	43%
Oppenheimer	Jun 12, 2026	Maintains	Outperform	$72.00 → $87.00	67%

The case for and against

Updated Oct 15, 2026

Bull case

Jefferies Financial Gr is well positioned because its core investment banking and trading franchises continue to gain share without a commensurate increase in balance-sheet risk, supporting a durable fundamentals story. Recent operating trends were strong, with total revenues of $2.22B near expectations, trading and banking both modestly ahead, and investment revenues up 15% Y/Y amid robust deal activity that should lift IB revenues meaningfully. Its post-2013 simplification strategy also looks constructive, as divestitures can unlock gains to fund share buybacks and support a higher multiple on the remaining financial services business.

Bear case

Jefferies Financial Gr is facing a negative outlook because asset management revenues weakened sharply to $86M versus $144M expected and $177M last year, signaling soft performance in a business line that should provide stability. The firm also faces reputational and credit concerns from sponsor-related exposures, including Bonita trade finance hedge fund’s apparent ties to potentially fraudulent Radiant World receivables and prior First Brands exposure, which heighten skepticism around risk controls. Although Jefferies has relatively modest leverage and good historical performance, its trading-heavy model remains vulnerable to volatile market activity, inventory markdowns, and an uneven mix of $1.49 in IB revenues for every dollar of trading revenues YTD, leaving it less diversified than bulge bracket peers.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.