Morgan Stanley raised the firm’s price target on Lazard (LAZ) to $45 from $33 and keeps an Underweight rating on the shares. The firm, which raised its Midcap Advisors Industry View to In-Line due to improving market conditions for dealmaking, expects the pipeline to start moving again, driven by rapidly improving market conditions, regulatory clarity, significant pent-up demand, and structural drivers of M&A, the analyst tells investors in a group note.
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