S&P Capital IQ Reiterates its STRONG BUY Rating on Lazard

October 29 00:00 2011

New York, October 29 (RainbowNewsLine.com) – Analyst Robert McMillan of S&P Capital IQ reiterates his STRONG BUY recommendation on the shares of Lazard (NYSE: LAZ), while reducing the estimate for the company .The 12-month target price is set to $44.

Analyst Robert McMillan, in a research note published yesterday mentions that the company has reported its Q3 EPS short of the estimates. Despite the volatile markets Lazard’s M&A advisory revenues rose 24%, and it was balanced by weak restructure and capital market revenues, the analyst says. The analyst expects the company’s businesses to grow over the next 12-18 months, driven by easy sovereign risk and resilient capital markets, The EPS estimate for 2011 has been reduced to $1.95 from $2.21.