PJT Partners price target raised to $94 from $88 at JMP Securities

JMP Securities raised the firm’s price target on PJT Partners to $94 from $88 and keeps an Outperform rating on the shares. PJT’s Q2 adjusted EPS was well above consensus estimates, leading to a solid quarter, and management struck a “cautiously optimistic” tone on the conference call, the analyst tells investors in a research note. Elevated hiring will create some near-term comp pressure but should support revenue growth over time, the firm contends.