Credit Suisse Gives a Buy Rating to Lazard Ltd

By Ryan Adsit

In a report issued on April 19, Christian Bolu from Credit Suisse maintained a Buy rating on Lazard Ltd (NYSE: LAZ), with a price target of $50. The company’s shares closed yesterday at $46.03.

According to, Bolu is a 4-star analyst with an average return of 7.3% and a 61.7% success rate. Bolu covers the Financial sector, focusing on stocks such as Raymond James Financial, Goldman Sachs Group Inc, and Evercore Partners Inc.

Lazard Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $49.67.

Based on Lazard Ltd’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $699 million and quarterly net profit of $128 million. In comparison, last year the company earned revenue of $513 million and had a net profit of $66.82 million.

Based on the recent corporate insider activity of 16 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.

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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.