Moelis upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs upgraded Moelis to Neutral from Sell with a price target of $58, up from $53, implying 13% total return potential. The merger and acquisition cycle is improving, and Moelis is well positioned to benefit, the analyst tells investors in a research note. The firm now sees the company’s dividend cut risk as minimal at this point, saying this has been one of the key downside risks to the stock in recent quarters. Goldman likes Moelis’ peer leading revenue growth from better backlogs, strong hiring and investments in technology deals.