Tue Sep 17 06:48:39 UTC 2024: ## Jefferies Financial Group Hits 52-Week High on Analyst Upgrade

**New York, NY (MarketBeat News)** – Shares of Jefferies Financial Group (NYSE: JEF) soared to a new 52-week high on Monday, fueled by a positive price target upgrade from Oppenheimer. The firm raised its target from $64.00 to $66.00, maintaining an “outperform” rating on the stock.

Jefferies Financial Group traded as high as $60.73, closing the day at $59.67. This represents a significant increase from its previous close of $58.54. The stock’s volume also saw a boost, with 1,711,025 shares traded.

The recent bullish sentiment for Jefferies Financial Group comes after the company reported strong second-quarter earnings. The financial services provider exceeded analysts’ expectations, reporting $0.64 earnings per share (EPS) and $1.66 billion in revenue. This marked a 59.6% year-over-year increase in revenue.

Jefferies Financial Group also announced an increased quarterly dividend, raising it from $0.30 to $0.35 per share. This translates to an annualized dividend of $1.40, yielding 2.35%.

However, not all analysts are as optimistic about the company’s prospects. StockNews.com downgraded Jefferies Financial Group from a “buy” to a “hold” rating in June, while Morgan Stanley maintained an “equal weight” rating but raised its price objective from $44.00 to $59.00.

Jefferies Financial Group operates as an investment banking and capital markets firm, providing services in mergers and acquisitions, debt financing, underwriting, and corporate lending. Despite some dissenting opinions, the recent price target upgrade and strong earnings performance suggest a positive outlook for the company.

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