Research Disclosures & Disclaimers

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products.

Lazard (LAZ.N)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (US$)	Price Target (US$)	Rating
2022-02-11	38.77	43.00	Neutral
2022-03-31	34.50	37.00	Neutral
2022-04-29	32.77	35.00	Neutral
2022-10-12	31.28	34.00	Neutral
2022-10-27	37.17	37.00	Neutral
2023-02-05	40.42	40.00	Neutral
2023-04-11	32.04	32.00	Neutral
2023-07-30	35.61	37.00	Neutral
2023-10-02	30.24	32.00	Neutral
2023-10-30	28.48	31.00	Neutral
2024-01-08	38.20	40.00	Neutral
2024-02-04	40.99	43.00	Neutral
2024-03-25	40.40	44.00	Neutral
2024-04-29	39.40	43.00	Neutral
2024-07-11	41.30	42.00	Neutral
2024-07-29	47.68	49.00	Neutral
2024-10-07	48.48	52.00	Neutral
2024-11-01	53.31	56.00	Neutral
2024-12-06	56.72	60.00	Neutral
2025-01-14	46.89	50.00	Neutral
2025-02-03	52.99	54.00	Neutral
2025-04-08	33.41	38.00	Neutral
2025-05-09	42.54	-	No Rating

Disclosures

This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-investment banking securities-related services are being, or have been, provided.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.
Within the past 12 months, UBS has received compensation for products and services other than investment banking services from this company/entity.
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
Because this security exhibits higher-than-average volatility, the FSR has been set at 15% above the MRA for a Buy rating, and at -15% below the MRA for a Sell rating (compared with 6/-6% under the normal rating system).

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.