Lazard price target lowered to $60 from $65 at Citizens

Citizens analyst Devin Ryan lowered the firm’s price target on Lazard (LAZ) to $60 from $65 and keeps an Outperform rating on the shares. The firm adjusted targets in the capital markets and fintech group as part of a Q1 earnings preview. “Navigating volatility remains the central challenge across” the sector, the analyst tells investors in a research note. Citizens says capital markets conditions “were better in pockets than in breadth” with institutional trading the “clearest bright” spot in the quarter. Crypto sentiment “remains impaired” in the near term, but the market is too focused on the current slowdown in activity and not focused enough on the medium-term policy and business catalysts, contends the firm.