LPL Financial Holdings Inc (LPLA) stock is soaring 5.05% in Friday's trading session, buoyed by positive analyst actions. The financial services company is seeing increased optimism from Wall Street, with two major firms raising their price targets on the stock.
Wells Fargo has significantly increased its target price for LPL Financial from $342 to $402. This substantial upward revision suggests the bank's analysts see considerable upside potential in the stock. Similarly, KBW has also shown confidence in LPL Financial's prospects by raising its price target from $377 to $405.
These bullish moves by analysts are likely driving investor enthusiasm, contributing to the stock's impressive gain. The raised price targets imply that both Wells Fargo and KBW believe LPL Financial has strong growth potential and may be undervalued at its current price. As investors digest this positive sentiment, it's translating into increased buying pressure, pushing the stock higher in intraday trading.
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