Lazard price target raised to $46 from $44 at Argus

Argus raised the firm’s price target on Lazard to $46 from $44 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s earnings call saw the management continue to reference more constructive dialogues with financial advisory customers after nearly two-years of sluggish industry-wide M&A activity, the analyst tells investors in a research note. The Fed’s recently less hawkish view on interest rates, which have retreated considerably since mid-October, could also act as a catalyst for pent-up M&A activity, the firm added.