Raymond James Financial

RJF · NYSE

$155.27+$1.83 (+1.19%)TodayMarket closed · Oct 20, 7:31 PM ET

Prev close $153.44

RJF analyst rating

HoldConsensus of 13 analysts over the last 12 months. 23% rate it a buy.

Strong buy0
Buy3
Hold10
Underperform0
Sell0

12-month price target · 15 analysts

Average $190.49 (+22.7% upside)

Low: $161.60
Now: $155.27
High: $215.25

Upgrades and downgrades

The latest rating actions, newest first

RJF analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 13, 2026	Maintains	Hold	$188.00 → $166.00	57%
Morgan Stanley	Oct 9, 2026	Maintains	Equal-Weight	$174.00 → $171.00	54%
UBS	Oct 7, 2026	Maintains	Neutral	$184.00 → $179.00	43%
Barclays	Oct 7, 2026	Maintains	Overweight	$196.00 → $197.00	57%
BMO Capital	Oct 6, 2026	Maintains	Market Perform	$175.00 → $170.00	56%
B of A Securities	Oct 5, 2026	Maintains	Neutral	$196.00 → $198.00	75%
JP Morgan	Oct 5, 2026	Maintains	Neutral	$179.00 → $185.00	53%
Wells Fargo	Oct 2, 2026	Initiates	Equal-Weight	$172.00	63%
Truist Securities	Sep 1, 2026	Initiates	Hold	$188.00	57%
TD Cowen	Sep 1, 2026	Maintains	Hold	$161.00 → $160.00	53%

The case for and against

Updated Oct 17, 2026

Bull case

Raymond James Finl is well supported by a durable wealth management franchise, with PCG AUA organic growth and solid FAUM growth underpinning revenue resilience as more than 8,900 advisors managed over $1.7 trillion in client assets as of fiscal year-end 2025. The firm’s strong free cash flow generation and robust balance sheet, including $1.8 billion in excess capital at 3/31, provide flexibility to absorb higher compensation and operating costs while still supporting growth initiatives. Although the outlook for investment banking and margins is softer, cross-segment collaboration and agentic AI deployment should improve cross-sell efficiency and help offset pressure from normalization in compensation and adjusted margins.

Bear case

Raymond James Finl is facing a weaker earnings outlook as quarter-to-date market impacts, softer private client P/T income, and lower NII pressure core profitability despite its broad business mix. Management also appears to be sustaining elevated spending while capital markets and investment banking results were below expectations, leaving revised EPS estimates at or below consensus and limiting upside in the firm’s valuation framework. Persistent client cash monetization pressure, rising or falling rate risk, elevated loan/deposit and sweep-deposit concerns, and uncertainty around strategic M&A all cloud the timing of a bottom-line inflection.

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.