KBW Initiates a Buy Rating on Lazard Ltd

By Jason Carr

In a report released today, Ann Dai from KBW initiated coverage with a Buy rating on Lazard Ltd (NYSE: LAZ). The company’s shares closed yesterday at $43.59, close to its 52-week high of $44.31.

According to TipRanks.com, Dai is a 1-star analyst with an average return of -19.8% and a 50.0% success rate. Dai covers the Financial sector, focusing on stocks such as Raymond James Financial, Brookfield Asset Mng, and Colony NorthStar Inc.

Currently, the analyst consensus on Lazard Ltd is Strong Buy and the average price target is $47.50, representing an 9.0% upside.

In a report issued on February 2, Credit Suisse also maintained a Buy rating on the stock with a $50 price target.

Lazard Ltd’s market cap is currently $5.4B and has a P/E ratio of 14.02. The company has a book value ratio of 4.3474.

Based on the recent corporate insider activity of 20 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.