Credit Suisse Resumes Coverage with a Buy Rating on Lazard Ltd

By Ryan Adsit

In a report released today, Christian Bolu from Credit Suisse resumed coverage with a Buy rating on Lazard Ltd (NYSE: LAZ). The company’s shares opened today at $40.21.

According to TipRanks.com, Bolu is a 4-star analyst with an average return of 10.4% and a 71.9% success rate. Bolu covers the Financial sector, focusing on stocks such as Raymond James Financial, Stifel Financial Corp., and Evercore Partners Inc.

Lazard Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $47.

Based on Lazard Ltd’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $618 million and quarterly net profit of $113 million. In comparison, last year the company earned revenue of $598 million and had a net profit of $399 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Scott D. Hoffman, the General Counsel of LAZ sold 42,000 shares for a total of $1,466,220.

Lazard Ltd. functions as a financial advisory and asset management firm. It specializes in crafting solutions to the complex financial and strategic challenges of a diverse set of clients around the world, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients across the globe a wide array of financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, corporate preparedness and various other financial matters. The Asset Management segment provides a broad range of global investment solutions and investment management services in equity and fixed income strategies, alternative investments, and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. The company was founded by Alexandre Lazard, Lazare Lazard and Simon Lazard in 1848 and is headquartered in Hamilton, Bermuda.