We just highlighted how Nelson Peltz's Trian Fund Management has disclosed a new stake in Lazard (LAZ). We've also posted Trian's presentation on Lazard below which they just released today (June 18th).
Trian's analysis on improving Lazard focuses on a few main points:
- Boosting margins
- Shareholder friendly capital deployment
- Efficient allocation of capital
- Improved corporate governance
Trian's analysis concludes that LAZ is worth $42 with their base case, $51 with their midpoint and $61 with their high growth estimates. Shares currently trade around $24 so that's considerable upside even with their base case.
Embedded below is Trian's presentation on Lazard:
You can download a .pdf copy here.
Monday, June 18, 2012
Trian Fund's Presentation on Lazard
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