Lazard Earns an Upgrade at Wolfe Research
<p><a href='https://financialmodelingprep.com/financial-summary/LAZ'>Lazard (NYSE:LAZ)</a> received an upgrade from Wolfe Research, shifting its rating from Underperform to Peer Perform. The firm raised its price target on the stock to $32 from $28 per share. The upgrade is based on expectations for the second quarter M&A activity. </p>
<p>The analysts noted that despite previous concerns, the stock's discounted valuation compared to peers presents a more balanced risk/reward opportunity. Despite a 2% rise on Monday, the company’s shares have declined by 7% since the start of the year. </p>
<p>Furthermore, the analysts believe the company's recent decision to reduce headcount will prove beneficial in the long run.</p>

NYSE:LAZ