KBW Maintains OP Rating, $52 PT On LAZ

KBW reports that Lazard Ltd. LAZ has booked approximately $110 mil. in advisory revs QTD and “we estimate that there is a minimum of $60 mil. still to be recognized by 3/30/11.”

KBW is maintaining its $52 PT and Outperform rating on shares of Lazard, which closed Wednesday at $39.52.