Wells Fargo initiated coverage of Houlihan Lokey with an Underweight rating and $149 price target. The firm’s fiscal 2026 and 2027 earnings estimates are below the Street on lower restructuring revenue. Given monetary easing, Wells prefers merger and acquisition recovery “pure-play” names, the analyst tells investors in a research note. Under its base case expectation of a soft economic landing, Wells sees Houlihan’s consensus restructuring estimates as high.
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