Keefe, Bruyette & Woods kept a Market Perform on Lazard Inc. (NYSE:LAZ) but cut its price target to $44 from $49 as the stock traded near $42.35; analysts said a Warburg Pincus mandate lifted Lazard’s deal pipeline while market volatility and rising funding costs pressure asset managers.
Previous Week Recap
- KBW Maintains Market Perform, Lowers LAZ Target: Keefe, Bruyette & Woods (KBW) maintained its Market Perform rating on Lazard Inc. (LAZ) and lowered the firm’s price target for LAZ shares to $44 from $49; the note was recorded at 11:32 GMT.
- Lazard Traded Near $42.35 Amid Pipeline Boost: Lazard (LAZ) stock traded near $42.35 after reports a Warburg Pincus mandate boosted its deal pipeline; note traders: market volatility and rising funding costs weigh on asset managers.
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