In the midst of the intense interest in the IPO of General Motors (NYSE:GM), LPL Financial (Nasdaq:LPLA) has in many ways fallen through the cracks, although that appears to be changing, as Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and UBS (NYSE:UBS) has all initiated coverage on them today, as well as Keefe, Bruyette & Woods.
Goldman was the most upbeat about the company, starting them off with a "Buy" rating. JPMorgan and UBS began with a "Neutral" rating, and Keefe, Bruyette & Woods started them at "Market Perform."
UBS AG analyst Alex Kramm commented, “We view LPL as a pure play on the growth in the independent financial advisor space, one of the fastest growing areas in the financial services industry.
“The independent advisor space has benefited from a secular trend of retail investors increasingly seeking financial advice and advisors breaking away from large wirehouses to become independent.”
LPL Investment Holdings Inc. was trading at $35.81, gaining $0.81, or 2.31 percent, as of 12:56 PM EST.
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