Lazard upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Steven Chubak upgraded Lazard to Outperform from Peer Perform with a $42 price target. The analyst says the advisory upside case from execution on productivity targets is not reflected in the stock’s current valuation. In addition, concerns on large-scale acquisitions to bolster Lazard’s growth appear overblown, the analyst tells investors in a research note.