UBS raised its price target on Houlihan Lokey (NYSE: HLI) to $42.00 (from $40.00) while maintaining a Buy rating. HLI reported 1Q18 adjusted EPS of $0.50 above the consensus of $0.41 per share.

UBS raised adjusted CY17 EPS estimates by 10c to $2.05 and our adjusted CY2018 EPS estimates by 10c to $2.20 due a stronger outlook for Corporate Finance Revenues.