LPL Financial Holdings Inc (LPLA) stock is soaring 11.55% in Friday's trading session, building on the strong pre-market momentum. The surge comes on the heels of multiple analyst upgrades and a significant company announcement regarding fee reductions.
Several prominent Wall Street firms have raised their target prices for LPL Financial, signaling growing confidence in the company's prospects. Notably, KBW increased its target price to $455 from $435, while Barclays lifted its projection to $420 from $411. Other institutions, including BMO, JP Morgan, and Jefferies, also raised their targets, contributing to the bullish sentiment surrounding the stock.
Adding fuel to the rally, LPL Financial announced a strategic move to reduce fees and simplify pricing across its advisory platforms. The company stated that fees would be lowered for its Strategic Asset Management (SAM) and Model Wealth Portfolios (MWP) advisory programs, effective July 1, 2026. This initiative is expected to enhance LPL Financial's competitiveness in the market and potentially attract more clients, further driving investor enthusiasm for the stock.