Jefferies Raises Price Target & Estimates on Och-Ziff Capital Management Group (OZM), Strong Quarter and Positive Guidance = Success

Jefferies is reiterating its Buy rating on shares of Och-Ziff Capital Management Group (NYSE: OZM) and is raising its price target from $19 to $20 on strong Q1 results and positive looking guidance.

The company released its quarterly results with revenue totaling $126 million and EPS of $0.16, which were ahead of the firms estimates of $0.14 and $119 million. The firm notes that the upside was due to incentive income of $7 million while it was only expecting it to be $1 million.

Management guided toward a comp ratio of 15-17% for Q2 while non-comp looks to fall out in the 18-20% range. The company also indicated that the effective tax rate will likely tick up incrementally in the 19-22% range.

To go inline with current market trends and the company's future outlook, the firm is raising its FY11 and FY12 EPS estimates from $1.36 and $1.54 to $1.43 and $1.60.

For more ratings news on Och-Ziff Capital Management Group click here and for the rating history of Och-Ziff Capital Management Group click here.

Shares of Och-Ziff Capital Management Group closed at $15.75 yesterday.

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