×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: lazard | peltz | trian | stake

Lazard Shares Rally as Peltz’s Trian Discloses Stake

Monday, 18 June 2012 03:53 PM

Shares of Lazard Ltd., the largest independent merger adviser, surged in New York trading Monday after Nelson Peltz’s Trian Fund Management LP disclosed a stake of about 5.1 percent and said the company is “significantly undervalued.”

Lazard advanced 96 cents, or 4.2 percent, to $24.05 at 2:24 p.m. in New York.

Trian holds about 6.3 million shares, Peltz’s firm said in a statement. Bermuda-based Lazard’s fee-based model and focus on margin improvement makes the firm attractive compared with rivals in more capital-intensive businesses, Trian said.

“Successful execution of Lazard’s plan could result in the company increasing earnings per share to slightly more than $3.50 in 2014,” Trian said in the statement. “This would imply a target value per share more than double the current price.”

© Copyright 2022 Bloomberg News. All rights reserved.


125
2012-53-18
Monday, 18 June 2012 03:53 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved