1759 ET - Jefferies' latest earnings came in below Wall Street expectations, hit by a slowdown in deal activity, UBS analysts say in a research note. That environment appears to have curbed momentum for the investment bank, with shares trading down around 33% year-to-date. UBS lowers its FY25 EPS estimate on Jefferies to $3.30 from $4.50 previously and its FY26 estimate to $5.05 from $5.90 previously, reflecting lower investment banking revenue and less comp leverage as prior year recruiting costs limit expense flexibility. UBS also cuts its target price to $75 a share from $92 a share previously. Shares closed down 3.9% to $52.22. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
March 28, 2025 17:59 ET (21:59 GMT)
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