LPL Financial rises after UBS upgrades to 'buy'

LPL Financial Holdings

06/01/2025 19:19

** Shares of wealth manager LPL Financial  LPLA.O  rise as
much as 3.5%; last up 1.8% at $339.11
    ** UBS upgrades LPLA to "buy" from "neutral"; raises PT to
$390 from $280, a 17% upside to stock's last close
    ** Brokerage anticipates an acceleration of client asset and
cash growth over the coming quarters amid a more bullish
environment for wealth management firms      
    ** UBS adds that there are multiple avenues from which LPLA
can generated industry-leading growth, most notably in the
enterprise space    
    ** Brokerage expects to see more consolidation in the
enterprise space as institutions partner with platforms that can
offer superior capabilities    
    ** Fourteen of 17 brokerages rate the stock "buy" or higher,
two "hold", and one "sell"; with a median PT of $379, according
to data compiled by LSEG    
    ** LPLA stock jumped 43.5% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))