Houlihan Lokey price target lowered to $156 from $190 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Houlihan Lokey (HLI) to $156 from $190 and keeps an Overweight rating on the shares. Recent trade developments raise recession risk and the firm expects the M&A pipeline to be impacted by deteriorating market conditions and prolonged uncertainty for CEOs looking to do deals, the analyst tells investors.