Raymond James: Consider Both Earnings Disappointment And Long-Term Potential

I maintain a hold rating on RJF after evaluating the company's recent performance and its prospects over a longer time horizon. RJF's Q3 FY25 bottom-line miss was driven by a non-recurring legal-related reserve and the Capital Markets segment's weaker-than-expected growth. But the firm is well-placed to meet its FY2030 topline goal, taking into account the share gain potential for specific business units like Private Client Group.