JMP Securities raised the firm’s price target on Lazard to $52 from $50 and keeps an Outperform rating on the shares. Momentum is still positive for the firm’s Capital Markets & FinTech coverage, but JMP Securities sees less room for error after its revaluation higher, the analyst tells investors in a research note. The firm still views Lazard as a “show me” value story where the company is taking positive steps, and a small improvement in investor sentiment can move the needle on valuation.
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