JPMorgan Downgrades Moelis (MC) to Neutral

JPMorgan analyst Kenneth Worthington downgraded Moelis (NYSE: MC) from Overweight to Neutral with a price target of $20.00 (from $49.00).

The analyst comments "We view the M&A business as attractive, as it generates high returns on equity and has stable margins. However the business is also economically sensitive. We do see some potential for the banks that are able to leverage their balance sheets to win more advisory work. It does present a risk to the boutiques, but is one they overcame coming out of the financial crisis."

For an analyst ratings summary and ratings history on Moelis click here. For more ratings news on Moelis click here.

Shares of Moelis closed at $25.16 yesterday.

You May Also Be Interested In

• Seaport Global Securities Starts ADI Global Distribution (ADIG) at Buy
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities
• Zedcor Inc (ZDC:CN) PT Raised to Cdn$7.75 at Desjardins