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FINWIRES

Research Alert: CFRA Keeps Buy Rating On Shares Of Lpl Financial Holdings Inc.

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target price by $30 to $400, on a P/E of 14.2x our 2027 EPS estimate vs. the peer average of 12.1x. We lower our 2026 EPS estimate by $0.55 to $23.22 and keep 2027's unchanged at $28.20, on respective revenue forecasts of $20.65B (+22%) and $23.50B (+14%). Q1 was characterized by solid execution, delivering $21B in organic net new assets, building its recruiting pipeline to record levels, and demonstrating disciplined expense control. We think LPLA's key initiatives are progressing well, including the Commonwealth integration (on track for Q4 2026) and strategic AI investments to enhance advisor productivity. The company's focus on efficiency is reflected in its updated 2026 outlook, where it lowered the top end of its Core G&A guidance by $20M to $2.19B. While management acknowledged the speculative risk of AI disrupting cash sweep economics, we view the early resumption of its share buyback program as a strong signal of confidence in the outlook and a belief that the stock is undervalued.

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