Moelis price target raised to $89 from $69 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Moelis (MC) to $89 from $69 and keeps an Outperform rating on the shares following a transfer of coverage. The firm believes the merger and acquisition environment should continue to improve gradually throughout the second half of the year. While policy and geopolitical uncertainty remain a risk, deal pipelines are still near all-time highs, the analyst tells investors in a research note.