Lazard price target lowered to $52 from $63 at Argus

Argus analyst Stephen Biggar lowered the firm’s price target on Lazard (LAZ) to $52 from $63 and keeps a Buy rating on the shares. The company’s results showed weaker-than-expected activity in the financial advisory segment from delayed deal closures, though a healthy 15% rise in Assets under management in the Asset Management segment, the analyst tells investors in a research note. Argus adds it continues to expect that greater M&A activity will aid Lazard’s advisory segment in 2026 and 2027, reflecting good CEO confidence levels, lower interest rates, well-functioning markets for equity/debt financing, and a regulatory environment that offers a window for easier deal approval.