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Can Raymond James Make up Ground on Bulge-Bracket Banks?
Excerpt from the InvestorGuide.com Stock of the Day on 5/27/2009

Raymond James, the mid-sized financial services conglomerate known mostly for its army of financial advisers, is looking to make a bigger mark in the investment banking business and yesterday's acquisition of Lane Berry, a boutique investment bank with 21 employees, is a step in that direction. With the bulge-bracket banks under tremendous scrutiny from the government and weighed down by risky assets on their balance sheets, boutiques and regionals are in fashion and Raymond James is looking to capitalize on that trend.

Raymond James (RJ) consists of multiple subsidiaries which provide financial services (e.g. financial planning, underwriting, equity research etc.) on the individual and institutional levels. Though financial advisors represent the core business, RJ also has a footprint in investment banking. The company has advised on deals in sectors such as consumer products, health care and technology. Lane Berry's acquisition is aimed at getting more assignments in the business services sector, an area where Lane's co-founders, Fred Lane and Robert Berry, have a lot of experience. Lane Berry was only founded in 2002 so Raymond James is not getting an established brand name but they are acquiring a team of senior bankers who can hopefully drum up business with their extensive rolodexes. More >


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Raymond James Financial (RJF) Upgrades

Date
Analyst
Old Rating
New Rating
06/11/2009
Pali Research
Neutral
Buy
01/08/2009
Wachovia
Underperform
Market Perform
07/02/2008
Keefe, Bruyette, and Woods
Market Perform
Outperform
07/08/2007
Wachovia
Mkt Perform
Outperform
07/07/2007
Wachovia
Mkt Perform
Outperform
07/06/2007
Wachovia
Mkt Perform
Outperform

Raymond James Financial (RJF) Downgrades

Date
Analyst
Old Rating
New Rating
09/10/2009
Pali Research
Buy
Neutral
04/08/2009
Friedman Billings
Market Perform
Underperform
09/22/2008
Sandler O'Neill
Buy
Hold
07/24/2008
Wachovia
Outperform
Market Perform

Raymond James Financial (RJF) New Coverage

Date
Analyst
Rating
07/10/2009
Sidoti
Buy
04/15/2009
Pali Research
Neutral
05/19/2008
Sandler O'Neill
Buy
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