11:05 AM EDT, 04/17/2024 (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 lift our target price by $13 to $87, using a forward P/E of 13.0x our 2024 EPS estimate, a slight premium to SF's 10-year average multiple (12.5x) as we see stronger-than-expected net interest income (NII) on higher-for-longer rates combined with healthy growth in asset management and investment banking. Higher-for-longer interest rates should allow SF to keep net interest margins elevated, although down slightly from year-end 2023 levels (3.24%), in our view. This should allow for a smaller drop in NII of just 4%-5% in 2024 versus our previous 8%-10% estimate. Outside of NII, we believe SF should benefit significantly from a recovery within the capital markets, resulting in strong investment banking results, while the Global Wealth Management segment will likely see healthy fee growth from higher client asset levels due to benefits from equity market tailwinds. We raise our 2024 EPS estimate by $0.32 to $6.73 and lift 2025's by $0.49 to $7.68.