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LAZ

Lazard

$34.79

0.4 (1.16%)

06:46
06/12/19
06/12
06:46
06/12/19
06:46

Lazard reports preliminary AUM approximately $228.7B as of May 31

The month's AUM included market depreciation of $8.7B; net outflows of $1.4B; and foreign exchange depreciation of $0.9B.

LAZ Lazard
$34.79

0.4 (1.16%)

04/11/19
04/11/19
DOWNGRADE

Neutral
Lazard, Moelis downgraded at BofA/Merrill on slowing M&A activity
As previously reported, BofA/Merrill analyst Michael Needham downgraded Lazard (LAZ) to Neutral from Buy and also downgraded Moelis (MC) by two notches to Underperform from Buy to reflect the slowdown in M&A activity, saying he expects Q1 to be the "first quarter in quite some time" when M&A advisors report lower revenues. The analyst also lowers his price targets on Lazard to $41 from $47 and on Moelis to $37 from $50, noting that deal pipelines started the year down 18%. Needham believes that while the Q2 deal pipeline should be stronger, it will still be hard for M&A advisors to meet consensus expectations, which call for average revenue growth of 8% of the next two years.
06/10/19
UBSW
06/10/19
DOWNGRADE
UBSW
Neutral
Lazard downgraded to Neutral from Buy at UBS
06/10/19
UBSW
06/10/19
DOWNGRADE
Target $36
UBSW
Neutral
Lazard downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Lazard to Neutral from Buy and lowered his price target to $36 from $43, saying the company's pipeline of advisory revenue has been "weak." The analyst further states that a "sufficient upward inflection" in activity is unlikely, keeping Lazard's advisory revenue growth this year constrained. Given his expected decrease in the availability of levered loan market financing, Hawken adds that Lazard may lose market share to "IBs that offer financing", also assigning "minimal risk" to the company pursuing an efficiency program that would boost its margins.
06/10/19
06/10/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cheniere Energy Partners (CQP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Elvira Scotto saying while she views the company's positive FID on Train 6 and updated run-rate guidance positively, she believes these announcements were in line with expectations. 2. At Home Group (HOME) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Simeon Gutman saying after the company's recent earnings miss and guidance cut that its headwinds appear less transitory than he'd previously thought. 3. Lazard (LAZ) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying the company's pipeline of advisory revenue has been "weak." 4. Insulet (PODD) downgraded to Market Perform from Outperform at Northland with analyst Suraj Kalia citing valuation. 5. Realogy (RLGY) downgraded to Equal Weight from Overweight at Stephens with analyst John Campbell saying he believes the company will sees a "depressed multiple" until it can prove the sustainability of its model, which he thinks will take at least a few quarters of consistent earnings growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

EQNR

Equinor

$19.44

-0.06 (-0.31%)

05:08
06/17/19
06/17
05:08
06/17/19
05:08
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Equinor rating change  »

Equinor upgraded to Hold…

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  • 25

    Jul

ROYMY

Royal Mail

$0.00

(0.00%)

05:07
06/17/19
06/17
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05:07
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Royal Mail rating change  »

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DOW

Dow Inc.

$51.12

-1.77 (-3.35%)

05:05
06/17/19
06/17
05:05
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05:05
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Dow Inc. rating change  »

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NRDBY

Nordea Bank

$0.00

(0.00%)

05:04
06/17/19
06/17
05:04
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05:04
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Nordea Bank rating change  »

Nordea Bank downgraded to…

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KMI

Kinder Morgan

$20.53

(0.00%)

05:03
06/17/19
06/17
05:03
06/17/19
05:03
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Kinder Morgan rating change  »

Kinder Morgan downgraded…

03/08/13
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SYMC

Symantec

$19.36

-0.22 (-1.12%)

05:00
06/17/19
06/17
05:00
06/17/19
05:00
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Symantec rating change  »

Symantec upgraded to Buy…

03/08/13
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03/06/13
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OGE

OGE Energy

$43.42

0.17 (0.39%)

04:56
06/17/19
06/17
04:56
06/17/19
04:56
Initiation
OGE Energy initiated  »

OGE Energy initiated with…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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04:55
06/17/19
06/17
04:55
06/17/19
04:55
General news
Breaking General news story  »

6-Month Bill Auction to…

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
CLSA India economics & strategy luncheon meeting »

India Strategist…

IR

Ingersoll-Rand

$124.65

0.31 (0.25%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Ingersoll-Rand management to meet with Stephens »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

NTGN

Neon Therapeutics

$4.76

-0.15 (-3.06%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Neon Therapeutics management to meet with Mizuho »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

  • 18

    Jun

NVTA

Invitae

$19.20

-0.43 (-2.19%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Invitae participates in a conference call with JPMorgan »

Life Science Tools &…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 06

    Aug

DL

China Distance Education

$5.41

(0.00%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
China Distance Education management to meet with Sidoti »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

QRTEA

Qurate Retail

$12.83

-0.4 (-3.02%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Qurate Retail management to meet with KeyBanc »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 20

    Jun

04:55
06/17/19
06/17
04:55
06/17/19
04:55
General news
Breaking General news story  »

3-Month Bill Auction to…

GNL

Global Net Lease

$19.58

0.13 (0.67%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Global Net Lease management to meet with B. Riley FBR »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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  • 17

    Jun

ITT

ITT

$62.33

-0.54 (-0.86%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
ITT management to meet with William Blair »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

TGODF

The Green Organic Dutchman

$0.00

(0.00%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
The Green Organic Dutchman Seaport Global »

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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Stephens banking analysts to hold an analyst/industry conference call »

Analysts, along with the…

AGTC

Applied Genetic

$3.89

0.04 (1.04%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Applied Genetic management to meet with Wedbush »

Meetings to be held in…

03/08/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

AMRS

Amyris

$3.93

-0.16 (-3.91%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Amyris management to meet with Seaport Global »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

IONS

Ionis Pharmaceuticals

$62.07

-1.79 (-2.80%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Ionis Pharmaceuticals management to meet with Piper Jaffray »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

RTIX

RTI Surgical

$4.20

-0.09 (-2.10%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
RTI Surgical management to meet with JMP Securities »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

DEI

Douglas Emmett

$41.26

-0.24 (-0.58%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Douglas Emmett management to meet with KeyBanc »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

  • 18

    Jun

LH

LabCorp

$166.42

-1.525 (-0.91%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
LabCorp management to meet with KeyBanc »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 17

    Jun

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