Lazard price target raised to $44 from $36 at Argus

Argus raised the firm’s price target on Lazard to $44 from $36 and keeps a Buy rating on the shares. The recent re-rating of the stock reflects an improving backdrop for both the financial advisory and asset management businesses, with lower interest rates acting as a catalyst in 2024 for pent-up M&A activity, the analyst tells investors in a research note. A broad equity market rally also aids Lazard’s asset management business, the firm added.