Lazard price target raised to $55 from $52 at JMP Securities

JMP Securities raised the firm’s price target on Lazard to $55 from $52 and keeps an Outperform rating on the shares. Business conditions are inflecting positively for the vast majority of Financials and FinTech companies, and the firm anticipates healthy revenue and earnings growth in the coming years, albeit not on a smooth line, the analyst tells investors in a research note. The firm recommends being the most selective and tactical when looking at firms leveraged to a Capital Markets recovery where it would argue sentiment is most constructive within Financials, including Investment Banks and Alternative Asset Managers, and says it has a lot of conviction in the FinTech space from here.