Lazard, the Financial sector company, was revisited by a Wall Street analyst on July 11. Analyst Ryan Kenny from Morgan Stanley maintained a Sell rating on the stock and has a $45.00 price target.
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Ryan Kenny has given his Sell rating due to a combination of factors impacting Lazard’s financial outlook. Despite the positive shift in monthly flows and the preliminary second-quarter average and end-of-period assets under management (AUM) exceeding consensus estimates, there are underlying concerns. The market impact and foreign exchange impact, although positive, showed a decrease compared to the previous month, indicating potential volatility. Additionally, while the net inflows turned positive, the overall market conditions and other external factors may not support sustained growth, leading to a cautious outlook.
Furthermore, the stock’s current price and market capitalization suggest that it may be overvalued given the existing market conditions and the company’s performance metrics. Ryan Kenny’s analysis likely considers these elements, suggesting that the potential risks and uncertainties outweigh the short-term positive indicators, warranting a Sell recommendation for Lazard’s stock.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LAZ in relation to earlier this year.