LAZ Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: Lazard's strategic initiatives, particularly in EMEA private credit, and AI price forecast suggest potential upside. The current backwardation in the options term structure indicates potential for upward price corrections.




Bearish Case: Heavy put option trading volume and long-term price decline create a bearish sentiment. Implied volatility disparity with SPY suggests further risk, with historical likelihood of negative returns.




Potential Outcomes:

1. Strategic initiatives drive recovery: 35%.

2. Continued decline due to volatility: 50%.

3. Price stabilization with volatility flattening: 15%.



April 24, 2025


Lazard Forecast

LAZ        Lazard











Correlated Assets

Assets that tend to move strongly with LAZ



PNC Forecast + Options Trading Strategies   PNC  PNC Financial Services (0.96)


FITB Forecast + Options Trading Strategies   FITB  Fifth Third Bancorp (0.96)


IWR Forecast + Options Trading Strategies   IWR  BlackRock Institutional Trust Company N.A. - iShares Russell Mid-Cap (0.95)


KKR Forecast + Options Trading Strategies   KKR  KKR (0.94)


MTB Forecast + Options Trading Strategies   MTB  M & T (0.93)



Uncorrelated Assets

Assets with little price relationship to LAZ



HELE Forecast + Options Trading Strategies   HELE  Helen of Troy (0.0)


KO Forecast + Options Trading Strategies   KO  Coca-Cola (-0.0)


NBR Forecast + Options Trading Strategies   NBR  Nabors Industries (-0.0)


HASI Forecast + Options Trading Strategies   HASI  Hannon Armstrong Sustainable Infrastructure (0.01)


ADI Forecast + Options Trading Strategies   ADI  Analog Devices (0.01)



Anticorrelated Assets

Assets that tend to move strongly against LAZ



WBA Forecast + Options Trading Strategies   WBA  Walgreens Boots Alliance (-0.69)


UDN Forecast + Options Trading Strategies   UDN  Invesco DB US Dollar Index Bearish (-0.69)


DG Forecast + Options Trading Strategies   DG  Dollar General (-0.78)


EC Forecast + Options Trading Strategies   EC  Ecopetrol SA (-0.8)


SPDN Forecast + Options Trading Strategies   SPDN  Direxion Daily S&P 500 Bear 1X Shares (-0.93)









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