Financial advisor and asset manager Lazard Ltd. (LAZ) on Tuesday caught some negative commentary from analysts at UBS.
The firm started coverage on LAZ with a “Sell” rating and $25 price target, suggesting an 18% downside to the stock’s Monday closing price of $30.42.
UBS noted that while Lazard offers a solid and mature business, its current valuation and Wall Street expectations are probably unrealistic.
Lazard shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of Lazard Ltd. (LAZ) have a 2.10% dividend yield, based on last night’s closing stock price of $30.42. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$35 price levels.
Lazard Ltd. (LAZ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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