BUZZ-Jefferies rises after report Japan's Sumitomo Mitsui looking to boost stake
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Investment bank Jefferies Financial Group’sshares rise 4.9% to $69.77Japan’s Sumitomo Mitsui Financial Group (8316.T) is mulling increasing its stake in JEF to about 20%, Bloomberg News reports, citing people familiar with matterTokyo-based Sumitomo Mitsui could boost stake by potentially acquiring preferred stock, report saidJEF did not immediately respond to Reuters’ request for comment3 of 5 brokerages rate stock “buy” or higher and 2 “hold”; median PT is $75 - data compiled by LSEGAs of last close, JEF shares down 15.1% YTD
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