UPDATE: Citigroup Initiates Raymond James Financial at Buy on EPS, Margin Mix

Citigroup initiated coverage on Raymond James Financial (NYSE: RJF ) with a Buy rating and a $44 price target. Citigroup commented, "Key reasons to own — 1) controllable + outsized EPS growth (18% two-year CAGR) relative to peers, fueled by ~$0.20 p.s. (or 8%) MK-related deal synergies