Goldman Sachs upgraded PJT Partners (PJT) to Buy from Neutral with a $170 price target which offers 25% upside. The analyst is “selectively positive” on investment banks offer exposure to large-cap mergers and acquisitions, secondaries advisory and restructuring. PJT offers “best-in-class exposure” to these areas and its valuation screens as attractive “for the first time in years,” the analyst tells investors in a research note. Goldman prefers the stock in a challenging macro and geopolitical backdrop.
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