PJT Partners downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded PJT Partners (PJT) to Market Perform from Outperform without a price target JMP still thinks the market is underestimating the company’s growth and earnings power in a more normal environment, particularly in a scenario where restructuring activity remains elevated, making the firm far more bullish than consensus on earnings power over the next few years, the analyst tells investors in a research note. However, even on the firm’s bullish bullish 2026 EPS estimate, the stock is trading at roughly 19x, which represents a much more balanced risk-reward profile, JMP argues.