Sponsored By:

Breakout Could Produce 10-Point Pop in This Financial Stock

Lazard appears to be forming a head-and-shoulders bottom

   

Lazard (NYSE:LAZ) — This financial advisory and asset management firm is seeing its investment banking unit improve as M&A and restructurings expand. Lazard expects to earn $2.17 in 2013, up from $1.10 in 2012.

On June 18, Trian Fund Management, run by the widely known activist investor Nelson Peltz, announced that it had accumulated a 5.1% ownership interest in LAZ shares, saying that it was their opinion that the shares were undervalued.

Technically the stock appears to be forming a head-and-shoulders bottom. A breakout through the neckline at $31 would produce a target of $39.

10 02 12 laz 300x206 Breakout Could Produce 10 Point Pop in This Financial Stock
Click to Enlarge

chart key 300x84 Breakout Could Produce 10 Point Pop in This Financial Stock


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/trade-of-the-day-lazard-nyse-laz/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.