SCHW - Raymond James added to selective 'Action Stocks' at Citi on earnings optimism

William_Potter/iStock via Getty Images Citi analyst William Katz opens 30-day positive catalyst watch for Raymond James Financial ([[RJF]] +0.7%) as he expects the firm's earnings to benefit from company's increased lending activity in the past few months. That's occurring against a backdrop of lower loan balances across the industry. RJF's calendar Q2 (CQ2) financial results are expected on July 28; Katz reiterates his Buy rating on RJF, which remains top Retail B/D pick, with a $215 price target. He estimates CQ2 EPS of $2.48 vs. the Street's $2.26 estimate, as of July 14, according to a note to clients. "Durability of net interest income proves resilient on the back of superior loan growth compared to those reporting to date," Katz says. The price target is calculated based on target price/earnings multiples, with a 17.5x multiple to Citi's full calendar-year 2023 estimate. Some of the risks associated with RJF's target price

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Raymond James added to selective 'Action Stocks' at Citi on earnings optimism