Lazard price target lowered to $50 from $53 at JMP Securities

JMP Securities lowered the firm’s price target on Lazard to $50 from $53 and keeps an Outperform rating on the shares. After some “ups” then “downs” in Q3, sentiment is exiting at a similar place to where it started, the analyst tells investors in a research note. Even though Q3 results will not be great at surface level and new information must continue to be assessed, much of the bad news is understood, the firm argues.