Updates
** Investment bank Jefferies Financial Group's JEF.N shares rise as much as 4%, last up 3.6% at $61.80
** UBS starts coverage of company's shares with "buy" rating and PT of $67, a 12.3% upside to stock's last close
** JEF's ongoing sale of its legacy, merchant banking assets and a "doubling-down" on its core banking franchise puts it in a strong position as the capital markets reopen - brokerage
** Senior bankers new to the platform ramp up at JEF should drive productivity growth through FY 2026 - UBS
** JEF has a market-leading presence in coverage of global small- to medium-sized companies - brokerage
** JEF's equities business has potential to expand its total addressable market to $50 bln-$60 bln from $15 bln-$20 bln - UBS
** 3 of 5 brokerages rate stock "buy" or higher and 2 "hold"; median PT $66.50 - LSEG
** As of last close, JEF shares up 47.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)