BUZZ-Raymond James rises after UBS upgrades to 'buy'

Shares of wealth manager Raymond James RJF.N rise as much as 2.6%; last up 1.9% at $160.64

UBS upgrades RJF to "buy" from "neutral"; raises PT to $185 from $150, a 17.3% upside to the stock's last close

Brokerage cites RJF's differentiated advisor platform behind the upgrade, which it says has "enabled superior recruitment and retention"

Adds that this will support continued net new assets growth and long-term revenue stability for RJF

RJF should additionally also benefit from accelerating loan growth in the current environment - UBS

Seven of 15 brokerages rate the stock "buy" or higher and eight "hold"; with a median PT of $163.50, according to data compiled by LSEG

RJF shares soared 39.3% in 2024 vs a 23.3% jump in the benchmark S&P 500 index .SPX

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))