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.