Lazard upgraded to Outperform from Market Perform at JMP Securities JMP Securities upgraded several independent advisory firms on expectations that companies will be more inclined to merge following the partial fiscal cliff resolution. The firm upgraded shares of Lazard to Outperform with a $37 price target.
Peabody hires Lazard to help with debt restructuring, Bloomberg reports Peabody Energy (BTU) has hired Lazard (LAZ) to advise it on how to restructure its $6.3B of debt, Bloomberg reports, citing two people with knowledge of the matter. Peabody is having discussions with creditors over ways to reduce its debt load, including swapping obligations for new shares or convertible notes, the report says. Reference Link