From Financial Modeling Prep: 2024-10-09 15:32:00

LPL Financial Holdings (NASDAQ:LPLA) saw a 3% increase in shares after Wells Fargo upgraded the company to Overweight with a new price target of $285. Analysts praised LPL’s improved risk/reward dynamics due to recent sweep cash rate adjustments, making it more attractive compared to peers.

Concerns over sweep cash pricing were addressed when LPL lowered rates in late September 2024, easing worries about regulatory and competitive pressures. While not declaring an “all-clear,” analysts believe this move enhances LPL’s outlook, boosting both base and upside potential for the company.



Read more at Financial Modeling Prep:: Wells Fargo Upgrades LPL Financial to Overweight, …