PJT Partners price target raised to $108 from $99 at Keefe Bruyette

Keefe Bruyette analyst Aidan Hall raised the firm’s price target on PJT Partners to $108 from $99 and keeps a Market Perform rating on the shares as part of a Q2 earnings preview. The firm says its revised estimates for the asset managers and M&A advisors generally reflect the impact of continued subdued capital markets activity. Markets were a modest tailwind to forward estimates for the traditionals this quarter, with idiosyncratic expense and acquisition adjustments for select managers in forward periods, the analyst tells investors in a research note.