In a report issued Tuesday, Credit Suisse analyst Ashley N. Serrao upgraded the whole M&A brokers sector from Underweight to Neutral, on beliefs that expectations surrounding the M&A cycle “have become overly pessimistic.”
However, the experts at Credit Suisse reiterated their “call for a flatter and longer M&A cycle than those seen in the past with the next leg driven by a pick-up in European and sponsor M&A as U.S. growth slows.”
A Few Specifics
Following the recent market pullback, however, Credit Suisse’s top pick continues to be Lazard, trailed by Evercore.
- Shares of Moelis & Co are up about 3.7 percent on Tuesday trading.
- Greenhill & Co.’s stock is also surging, almost 1.5 percent, while Evercore is up almost 0.9 percent.
- On the other hand, Lazard is down about 1 percent.
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