Raymond James (NYSE:RJF) Running on All Cylinders

Raymond James (NYSE:RJF) generated their highest net revenues in the history of the company last quarter, according to Ticonderoga, and exceeded EPS expectations, resulting in them boosting their EPS estimates and PT.

Ticonderoga says, "EPS of $0.65 was 25% better than our estimate. ROE was 13.9%, the highest since June 2008. Net revenues of $814 million were the best in Company history and 10% better than our estimate. Credit metrics also improved. Non- performing assets declined to $157 million, down 13% from last quarter...We are raising our fiscal 2011 estimate to $2.63 from $2.23 prior to earnings. We are also introducing a fiscal 2012 estimate of $2.77."

Ticonderoga reiterates a "Buy" rating on Raymond James (RJF), which closed Thursday at $35.34, gaining $1.74, or 5.18 percent. Ticonderoga raised their price target on Raymond James from $35 to $40.