Lazard price target lowered to $53 from $56 at JMP Securities

JMP Securities analyst Devin Ryan lowered the firm’s price target on Lazard to $53 from $56 and keeps an Outperform rating on the shares as part of a broader research note on Investment Banks & Brokers, Alternative Asset Managers, and Financial Technology. Q4 is expected to represent another generally tough quarter for most companies in his coverage while the market remains focused on assessing the effect of central bank policy on both inflation control and economic implications in the early part of 2023, the analyst tells investors in a research note.