Trian Fund's Presentation on Lazard ~ market folly

Monday, June 18, 2012

Trian Fund's Presentation on Lazard

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.

blog comments powered by Disqus