Houlihan Lokey price target lowered to $210 from $243 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Houlihan Lokey (HLI) to $210 from $243 and keeps a Buy rating on the shares. Investment banking volumes are up 4% year over year through March 9, though growth has slowed recently and could turn negative if geopolitical uncertainty persists, a risk already reflected in bank stocks, which are down about 15% year to date and have underperformed the S&P 500 due to multiple compression, the analyst tells investors in a research note. Despite near-term volatility, longer-term prospects for M&A remain constructive, with the cycle viewed as still in its middle stages relative to the 2023 trough, the firm says.