Raymond James Stock Recommendations and Price Targets

Raymond James Financial, Inc., a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments. The Private Client Group segment provides securities brokerage services, including the sale of equities, mutual funds, fixed income products, and insurance products to their individual clients; and borrowing and lending of securities to and from other broker-dealers, financial institutions, and other counterparties. The Capital Markets segment offers securities brokerage, trading, and research services to institutions with a focus on sale of the United States and Canadian equities and fixed income products; and manages and participates in underwritings, merger and acquisition services, and public finance activities. The Asset Management segment engages in the operations of Eagle, the Eagle Family of Funds, Cougar, the asset management operations of Raymond James & Associates, trust services of Raymond James Trust, and other fee-based asset management programs. The RJ Bank segment provides corporate loans, SBL, tax-exempt loans, and residential loans. The Other segment engages in private equity activities, including various direct and third party private equity investments; and private equity funds. Raymond James Financial, Inc. was founded in 1962 and is based in St. Petersburg, Florida.

This is a list of recent ratings by Raymond James.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
3/24/2023	DRI Darden Restaurants	Boost Price Target	$153.00	$160.00 ➝ $165.00	Outperform	Low
3/24/2023	DOO BRP	Boost Price Target	C$104.00	C$138.00 ➝ C$139.00		N/A
3/24/2023	PRV.UN PRO Real Estate Investment Trust	Lower Price Target	C$2.00	C$7.00 ➝ C$6.75	Market Perform	N/A
3/24/2023	MOGO Mogo	Lower Price Target	C$1.00	C$2.25 ➝ C$1.50	Outperform	N/A
3/24/2023	MOGO Mogo	Lower Price Target	$1.00	$2.25 ➝ $1.50	Outperform	Low
3/23/2023	REGN Regeneron Pharmaceuticals	Upgrade	$820.00		Underperform ➝ Market Perform	Low
3/23/2023	KBL K-Bro Linen	Downgrade	C$28.00	C$47.00 ➝ C$37.50	Strong-Buy ➝ Outperform	N/A
3/23/2023	KBRLF K-Bro Linen	Downgrade	$21.00		Strong-Buy ➝ Outperform	Low
3/23/2023	ECN ECN Capital	Lower Price Target	C$3.00	C$5.50 ➝ C$4.00	Outperform	N/A
3/23/2023	ECNCF ECN Capital	Lower Price Target	C$2.00	C$4.00		Low
3/23/2023	QTRH Quarterhill	Lower Price Target	C$1.00	C$2.45 ➝ C$2.00	Outperform	N/A
3/23/2023	QTRHF Quarterhill	Lower Price Target	C$1.00	C$2.00		Low
3/22/2023	NKE NIKE	Boost Price Target	$121.00	$130.00 ➝ $135.00	Outperform	Low
3/22/2023	ETNB 89bio	Boost Price Target	$16.00	$25.00 ➝ $50.00		N/A
3/22/2023	BSRTF BSR Real Estate Investment Trust	Downgrade	$13.00		Strong-Buy	Low
3/22/2023	HOM.U Bsr Real Estate Investment Trust	Downgrade	C$13.00	C$17.00	Strong-Buy ➝ Outperform	N/A
3/22/2023	CPG Crescent Point Energy	Upgrade	C$9.00	C$11.50 ➝ C$12.00	Market Perform ➝ Outperform	N/A
3/22/2023	NYCB New York Community Bancorp	Initiated Coverage	$9.00	$13.00	Strong-Buy	Low
3/22/2023	CPG Crescent Point Energy	Upgrade	$6.00		Market Perform ➝ Outperform	Low
3/22/2023	WTTR Select Energy Services	Initiated Coverage	$6.00	$12.00	Strong-Buy	Low
3/22/2023	LMDX LumiraDx	Lower Price Target	$1.00	$3.50 ➝ $2.00	Outperform	Low
3/21/2023	FLT FLEETCOR Technologies	Upgrade	$201.00	$254.00	Market Perform ➝ Outperform	Low
3/21/2023	BLDP Ballard Power Systems	Lower Price Target	$5.00	$6.00 ➝ $5.00	Market Perform	Low
3/21/2023	CYXT Cyxtera Technologies	Downgrade	$1.00		Outperform ➝ Market Perform	Low
3/20/2023	ENPH Enphase Energy	Upgrade	$196.00	$225.00	Market Perform ➝ Outperform	Low
3/20/2023	LSI Life Storage	Boost Price Target	$125.00	$116.00 ➝ $140.00	Outperform	Low
3/20/2023	AMD Advanced Micro Devices	Boost Price Target	$98.00	$100.00 ➝ $115.00		Low
3/20/2023	EIF Exchange Income	Boost Price Target	C$51.00	C$62.00 ➝ C$65.00	Strong-Buy	N/A
3/20/2023	EIFZF Exchange Income	Boost Price Target	C$37.00	C$62.00 ➝ C$65.00		Low
3/20/2023	HBCP Home Bancorp	Initiated Coverage	$35.00		Market Perform	Low
3/20/2023	INTC Intel	Boost Price Target	$29.00	$30.00 ➝ $33.00		Low
3/20/2023	PWSC PowerSchool	Upgrade	$19.00	$22.00	Market Perform ➝ Outperform	Low
3/17/2023	FNV Franco-Nevada	Lower Price Target	$144.00	$158.00 ➝ $157.00	Outperform	Low
3/17/2023	SPFI South Plains Financial	Reiterated Rating	$22.00	$26.00	Outperform	Low
3/17/2023	CHW Chesswood Group	Lower Price Target	C$9.00	C$17.00 ➝ C$16.00	Outperform	N/A
3/17/2023	CHWWF Chesswood Group	Lower Price Target	C$6.00	C$17.00 ➝ C$16.00		Low
3/17/2023	HLTRF HLS Therapeutics	Downgrade	$5.00		Outperform ➝ Market Perform	Low
3/17/2023	AVAH Aveanna Healthcare	Lower Price Target	$1.00	$4.00 ➝ $3.00		Low
3/17/2023	ITR Integra Resources	Lower Price Target	C$1.00	C$3.00 ➝ C$2.25	Outperform	N/A
3/16/2023	ISV Information Services	Boost Price Target	C$22.00	C$26.00 ➝ C$27.00	Market Perform	N/A
3/16/2023	NXR.UN Nexus Industrial REIT	Lower Price Target	C$10.00	C$13.00 ➝ C$12.50	Strong-Buy	N/A
3/16/2023	EFRTF Nexus Industrial REIT	Lower Price Target	C$7.00	C$13.00 ➝ C$12.50		Low
3/16/2023	BRLT Brilliant Earth Group	Lower Price Target	$4.00	$9.00 ➝ $7.00	Outperform	Low
3/16/2023	TNT.UN True North Commercial REIT	Lower Price Target	C$4.00	C$5.50 ➝ C$4.00	Market Perform	N/A
3/16/2023	TUERF True North Commercial Real Estate Investment Trust	Lower Price Target	C$2.00	C$5.50 ➝ C$4.00		Low
3/15/2023	OGN Organon & Co.	Initiated Coverage	$22.00	$33.00	Outperform	Low
3/14/2023	META Meta Platforms	Boost Price Target	$206.00	$220.00 ➝ $238.00	Outperform	Low
3/14/2023	GL Globe Life	Lower Price Target	$107.00	$141.00 ➝ $138.00	Strong-Buy	Low
3/14/2023	JBL Jabil	Boost Price Target	$83.00	$84.00 ➝ $100.00	Strong-Buy	Low
3/14/2023	ELF e.l.f. Beauty	Boost Price Target	$78.00	$75.00 ➝ $80.00	Outperform	Low
3/14/2023	COHR Coherent	Lower Price Target	$35.00	$76.00 ➝ $74.00	Outperform	N/A
3/14/2023	DK Delek US	Lower Price Target	$22.00	$35.00 ➝ $32.00	Outperform	Low
3/14/2023	XM Qualtrics International	Downgrade	$18.00		Outperform ➝ Market Perform	Low
3/14/2023	DBM Doman Building Materials Group	Boost Price Target	C$7.00	C$6.50 ➝ C$7.00	Market Perform	N/A
3/14/2023	CWXZF Doman Building Materials Group	Boost Price Target	C$5.00	C$7.00		N/A
3/14/2023	SLGL Sol-Gel Technologies	Lower Price Target	$4.00	$13.00 ➝ $10.00	Strong-Buy	Low
3/14/2023	LEV Lion Electric	Lower Price Target	C$3.00	C$2.50		N/A
3/14/2023	LEV Lion Electric	Lower Price Target	$2.00	$4.50 ➝ $2.50	Market Perform	Low
3/13/2023	SGEN Seagen	Downgrade	$198.00		Strong-Buy ➝ Market Perform	Low
3/13/2023	GRT.UN Granite Real Estate Investment Trust	Boost Price Target	C$80.00	C$93.00 ➝ C$95.00	Outperform	N/A
3/13/2023	FRC First Republic Bank	Downgrade	$12.00		Strong-Buy ➝ Market Perform	Low
3/13/2023	ARIS Aris Water Solutions	Lower Price Target	$8.00	$20.00 ➝ $15.00	Outperform	Low
3/13/2023	ACR ACRES Commercial Realty	Boost Price Target	$10.00	$13.00 ➝ $13.50	Outperform	Low
3/13/2023	AJX Great Ajax	Lower Price Target	$6.00	$11.00 ➝ $10.50	Outperform	Low
3/13/2023	AIRS AirSculpt Technologies	Lower Price Target	$5.00	$10.00 ➝ $8.00	Outperform	Low
3/10/2023	HES Hess	Lower Price Target	$122.00	$175.00 ➝ $170.00	Outperform	Low
3/10/2023	SIVB SVB Financial Group	Downgrade	$106.00		Outperform ➝ Market Perform	Low
3/10/2023	AFN Ag Growth International	Boost Price Target	C$60.00	C$64.00 ➝ C$70.00	Outperform	N/A
3/10/2023	AGGZF Ag Growth International	Boost Price Target	C$46.00	C$64.00 ➝ C$70.00		Low
3/10/2023	ALTG Alta Equipment Group	Boost Price Target	$15.00	$19.00 ➝ $22.00	Outperform	Low
3/10/2023	MI.UN Minto Apartment Real Estate Invt Trust	Downgrade	C$14.00	C$19.75 ➝ C$18.75	Strong-Buy ➝ Outperform	N/A
3/10/2023	HOM.U Bsr Real Estate Investment Trust	Lower Price Target	$13.00	$18.00 ➝ $17.00	Strong-Buy	N/A
3/10/2023	MDP Medexus Pharmaceuticals	Boost Price Target	C$8.00	C$3.50 ➝ C$4.00	Outperform	N/A
3/10/2023	DXT Dexterra Group	Lower Price Target	C$5.00	C$7.50 ➝ C$7.00	Market Perform	N/A
3/10/2023	HZNOF Dexterra Group	Lower Price Target	C$4.00	C$7.50 ➝ C$7.00		Low
3/10/2023	HLLY Holley	Boost Price Target	$2.00	$3.00 ➝ $3.50	Outperform	Low
3/10/2023	GRN Greenlane Renewables Inc. (GRN.V)	Lower Price Target	C$3.00	C$1.75 ➝ C$1.25	Market Perform	N/A
3/10/2023	MEDXF Medexus Pharmaceuticals	Boost Price Target	C$1.00	C$3.50 ➝ C$4.00		Low
3/10/2023	UP Wheels Up Experience	Lower Price Target	$1.00	$3.00 ➝ $1.80	Outperform	Low
3/10/2023	GRNWF Greenlane Renewables	Lower Price Target	C$0.00	C$1.75 ➝ C$1.25		Low
3/9/2023	LNR Linamar	Boost Price Target	C$62.00	C$82.00 ➝ C$84.00	Outperform	N/A
3/9/2023	LIMAF Linamar	Boost Price Target	C$45.00	C$82.00 ➝ C$84.00		Low
3/9/2023	ANCTF Alimentation Couche-Tard	Boost Price Target	C$47.00	C$60.00 ➝ C$75.00		Low
3/9/2023	NVEI Nuvei	Boost Price Target	$41.00	$40.00 ➝ $49.00	Outperform	Low
3/9/2023	LIF Labrador Iron Ore Royalty	Lower Price Target	C$31.00	C$38.00 ➝ C$36.00	Market Perform	N/A
3/9/2023	FM First Quantum Minerals	Upgrade	C$28.00	C$30.00 ➝ C$35.00	Market Perform ➝ Outperform	N/A
3/9/2023	LIFZF Labrador Iron Ore Royalty	Lower Price Target	C$23.00	C$36.00		Low
3/9/2023	MIRM Mirum Pharmaceuticals	Lower Price Target	$23.00	$84.00 ➝ $83.00	Strong-Buy	Low
3/9/2023	ALS Altius Minerals	Lower Price Target	C$22.00	C$28.00 ➝ C$27.50	Outperform	N/A
3/9/2023	FQVLF First Quantum Minerals	Upgrade	$21.00		Market Perform ➝ Outperform	Low
3/9/2023	VERX Vertex	Boost Price Target	$19.00	$19.00 ➝ $22.00	Outperform	Low
3/9/2023	ATUSF Altius Minerals	Lower Price Target	C$16.00	C$27.50		Low
3/9/2023	CFX Canfor Pulp Products	Lower Price Target	C$3.00	C$1.95 ➝ C$1.80	Market Perform	N/A
3/9/2023	CFXTF Conifex Timber	Lower Price Target	C$1.00	C$1.95 ➝ C$1.80		N/A
3/9/2023	SPIR Spire Global	Lower Price Target	$1.00	$4.00 ➝ $3.50	Outperform	Low
3/8/2023	AVAV AeroVironment	Boost Price Target	$90.00	$100.00 ➝ $105.00	Outperform	Low
3/8/2023	SQSP Squarespace	Boost Price Target	$30.00	$26.00 ➝ $30.00	Outperform	Low
3/8/2023	WJX Wajax	Boost Price Target	C$23.00	C$25.00 ➝ C$27.00	Outperform	N/A
3/8/2023	MAXN Maxeon Solar Technologies	Boost Price Target	$25.00	$22.00 ➝ $24.00	Outperform	Low
3/8/2023	WJXFF Wajax	Boost Price Target	C$18.00	C$27.00		Low