Jefferies rises as Oppenheimer calls it attractively valued, raises Q3 profit estimate
BUZZ-Jefferies rises as Oppenheimer calls it attractively valued, raises Q3 profit estimate ** Shares of investment bank Jefferies Financial Group JEF.N rise 2.4% to $48.50 in premarket trading
** Oppenheimer calls JEF "best positioned and most attractively valued investment bank"; cites exposure to expected M&A revival
** Raises Q3 EPS estimate to $1.06 from $0.67 on stronger equity underwriting, completed M&As
** Lifts investment banking revenue estimate to $1.27 bln from $1.06 bln, largely reflecting higher equity and M&A revenue
** Brokerage maintains "outperform" rating but cuts PT to $76 from $83 due to lower peer multiples
** Two of five analysts rate stock "strong buy" or "buy" and three "hold"; their median PT is $61 - data compiled by LSEG
** As of last close, stock down 23.6% YTD
(Reporting by Pragyan Kalita in Bengaluru)