Morgan Stanley has upgraded Jefferies Financial Group Inc (JEF) to Overweight from Equal-Weight, reflecting a more optimistic view on the company's future. This change comes as the firm, headquartered in New York City, continues to navigate the complexities of the financial services industry, which includes investment banking and asset management.
As of December 4, 2025, Jefferies boasts a market capitalization of $12.2 billion, with a price-to-earnings ratio of 16.81 and an earnings per share of 3.27. The company's dividend yield stands at an impressive 273.9%. Analysts expect Jefferies to report earnings of $0.94 per share on June 23, 2026, with revenue estimates at $2.1 billion.
The upgrade underscores a shift in analyst sentiment, potentially indicating improved fundamentals or a stronger business performance. Jefferies has recently shown mixed earnings results, including a notable 25% surprise in Q3 2025, where it reported an EPS of $1.01 against an estimate of $0.81.
Analyst ratings and price targets provide valuable insights based on extensive research. However, they should be considered alongside various factors such as company fundamentals, competitive positioning, and broader industry trends. The consensus among analysts currently leans towards a Buy rating, with 2 Strong Buy, 5 Buy, and 3 Hold ratings recorded as of December 1, 2025.
This upgrade is part of a broader trend, as other firms have also adjusted their ratings on Jefferies in recent months, including Oppenheimer, which upgraded the company to Outperform on October 17, 2025. Such decisions reflect an evolving landscape for Jefferies Financial Group Inc as it continues to adapt to market conditions.