Lazard price target raised to $59 from $55 at JMP Securities

JMP Securities analyst Devin Ryan raised the firm’s price target on Lazard (LAZ) to $59 from $55 and keeps an Outperform rating on the shares. Lazard reported a modest headline shortfall in Q3, but business momentum remains solid near term, while management remains confident in its longer-term plan, the analyst tells investors in a research note.