Deutsche Bank initiated coverage of Houlihan Lokey (HLI) with a Hold rating and $210 price target The firm sees more share upside in Houlihan’s “pro-cyclical peers” that offer greater exposure to large-cap merger and acquisitions. The company’s limited involvement in “big-ticket” deals and higher revenue share from less cyclical segments limit its earning growth during bull markets, the analyst tells investors in a research note.
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