Perella Weinberg downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded Perella Weinberg Partners (PWP) to Market Perform from Outperform with a price target of $23, up from $22, 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. Keefe upgraded Houlihan Lokey and downgraded Perella Weinberg with the analyst change.