7/102 sources · 2 publishersUpdated Oct 11, 06:41 UTC
Citizens upgrades Houlihan Lokey to Outperform with $175 price target
Citizens Research upgraded Houlihan Lokey (HLI) to Outperform from Market Perform and set a $175 price target, citing record backlog and new business in Q2. The upgrade prompted an intraday rise of several percent before the stock settled around $130. The firm noted improving activity in financial restructuring and advisory services ahead of its Q3 earnings.
Why it matters
Citizens' upgrade signals expected earnings upside, which could attract investors and support the stock price (Citizens' note).
Key facts
- 1Citizens upgraded Houlihan Lokey to Outperform from Market Perform. financialcontent.com
- 2Citizens set a $175 price target for Houlihan Lokey. financialcontent.com
- 3Houlihan Lokey reported record backlog and new business in the second quarter. financialcontent.com
Open questions
- says shares rose 1.90% to $127.92; says shares rose 4.1% and later settled at $130.07, up 3.6%.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.