Goldman Sachs Maintains Sell on Lazard, Raises Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Richard Ramsden has maintained a Sell rating on Lazard (NYSE:LAZ) but increased the price target from $28 to $31.
December 19, 2023 | 1:06 pm
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Goldman Sachs reaffirms a Sell rating on Lazard, yet raises the price target from $28 to $31, indicating a potential downside from the current price level but a slightly improved outlook.
The maintenance of a Sell rating by a prominent analyst like Goldman Sachs suggests that they believe the stock will underperform the market or its sector in the short term. However, the increase in the price target could imply that the firm sees some factors that might limit the downside or that the company's prospects have slightly improved. Investors may view the rating as a negative signal, but the raised target could mitigate the impact slightly.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100