Lincoln International falls as brokerages initiate coverage after IPO research quiet period
BUZZ-Lincoln International falls as brokerages initiate coverage after IPO research quiet period ** Investment bank Lincoln International's LCLN.N shares fall 6.5% to $23.22, underperforming rivals as IPO research quiet period ends
** Morgan Stanley, BMO Capital Markets, Citizens Capital Markets, Evercore ISI, and Keefe, Bruyette & Woods among Wall Street brokerages initiating coverage on LCLN
** Analysts broadly believe LCLN is fairly priced given challenging backdrop for middle-market sponsor exits
** KBW sees LCLN well-positioned to continue to grow in tandem with broader private capital markets
** Citizens says LCLN has built a rare combination of attributes, noting its market-leading valuations franchise and strong relationships with some of the largest private equity sponsors across the globe
** Goldman Sachs and Morgan Stanley acted as joint lead book-running managers for IPO
** As of last close, LCLN stock up 24% since May debut
Brokerage | PT | Rating |
KBW | $26 | Market Perform |
Citizens | $30 | Market Outperform |
Morgan Stanley | $27 | Equal-weight |
Evercore | $25 | In Line |
BMO | $26 | Market Perform |
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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