Jefferies (JEF) 2026 stock analysis: the largest non-bulge-bracket investment bank's share-gain story, its advisory, underwriting and trading mix, the managing-director hiring flywheel moat, the post-Leucadia pure-play simplification, and the risks of IB cyclicality, comp ratio, and trading losses.
Evercore (EVR) 2026 stock analysis: the advisory-first investment bank's brand moat, managing-director hiring flywheel, restructuring counter-cyclicality, capital-light high-ROE model, and the risks of deal-cycle volatility, comp-ratio pressure, and talent war.
Houlihan Lokey (HLI) 2026 stock analysis: how the world's #1 restructuring franchise, mid-market M&A advisory, and valuation services hedge the business cycle, the capital-light high-ROE model, deal-volume and banker-talent risks, and how HLI compares to Evercore, Moelis, Lazard, and PJT.
Raymond James Financial (RJF) 2026 stock analysis: the independent advisor moat, net interest income exposure to falling rates, cash sorting risk, advisor recruiting economics, the TriState Capital deal, and how RJF stacks up against LPL and Schwab.
A 2026 stock outlook for NH Investment & Securities (KRX 005940), analyzing the NongHyup-affiliated broker's IB franchise (ECM, DCM, real estate), high-dividend policy, WM and retail brokerage, bond and trading P&L, real-estate PF exposure risk, the rate cycle, and the Korean value-up re-rating thesis.