Houlihan Lokey price target raised to $139 from $132 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Houlihan Lokey to $139 from $132 and keeps a Market Perform rating on the shares as part of a Q2 earnings preview. The firm says its revised estimates for the asset managers and M&A advisors generally reflect the impact of continued subdued capital markets activity. Markets were a modest tailwind to forward estimates for the traditionals this quarter, with idiosyncratic expense and acquisition adjustments for select managers in forward periods, the analyst tells investors in a research note.