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Investing.com - Keefe, Bruyette & Woods raised its price target on Lazard (NYSE:LAZ) to $60.00 from $57.00 while maintaining a Market Perform rating.
The firm increased its 2025 and 2026 earnings per share estimates following Lazard’s second-quarter earnings beat, citing expectations for higher revenue and a lower compensation ratio in 2026.
KBW noted that Lazard shares modestly underperformed peers after earnings, likely due to the market’s lower relative third-quarter revenue outlook compared to the strong second-quarter results.
The investment bank remains confident that the merger and acquisition backdrop will continue to improve if further tariff and trade agreements are reached, according to KBW’s research note.
KBW also highlighted recent flow trends and forward commentary related to Lazard’s asset management business as incremental positives, though the firm maintained its Market Perform rating with shares trading at approximately 13 times its updated 2026 earnings per share estimate.
In other recent news, Lazard, Inc. reported its second quarter 2025 financial results, showcasing a robust performance that surpassed market expectations. The company achieved adjusted earnings per share of $0.52, outpacing analyst predictions of $0.39. Revenue for the quarter reached $796 million, significantly exceeding the consensus estimate of $702.7 million. This impressive outcome was largely driven by a 20% surge in its Financial Advisory revenue. These developments underscore Lazard’s strong position in the financial sector. The results reflect the company’s effective strategies and operational efficiencies. Investors may find these figures noteworthy as they evaluate Lazard’s financial health and future prospects.
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