NEW YORK (TheStreet) -- Shares of LPL Financial Holdings Inc. (LPLA) are down -2.79% to $47.73 on Thursday after UBS (UBS) cut the brokerage and investment advisory services' price target to $53 from $54.
"Our estimates are coming down on lower activity levels and higher expenses, and we would not be surprised to see some weakness in the shares this morning," UBS said.
The firm also lowered LPL Financial Holdings' full year 2014 EPSe to $2.40 from $2.51 and its full year 2015 EPSe to $2.67 from $2.71.
"Our estimate comes down as lower commissions and higher expenses carry through into next year," the firm added.
TheStreet Ratings team rates LPL FINANCIAL HOLDINGS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LPL FINANCIAL HOLDINGS INC (LPLA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: