01:25 PM EDT, 06/26/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target by $9 to $66, reflecting near-term challenging market conditions due to U.S. policy and geopolitical events. Our target is based on a P/E of 16.5x our FY 26 (Nov.) EPS estimate, in line with peers. We decrease our FY 25 EPS estimate to $2.32 from $3.32 and FY 26's to $4.01 from $5.38 on respective revenue projections of $6.83B (-3%) and $7.75B (+13%). We maintain higher optimism for 2H 2025 and into 2026, led by JEF's momentum in the Advisory and Equities businesses, along with management's commentary on robust client backlog and increased transaction discussions. However, we note the realization of these expectations hinges on sustained market stabilization and resolution of ongoing uncertainties that have constrained activity levels. For shares to command a P/E multiple above 17.0x, we believe the broader industry would need a decisive shift toward risk-on market sentiment and improved CEO confidence that drives meaningful recovery in equity underwriting and M&A volumes.