PJT Companions lower to Promote as UBS sees restricted income expansion (NYSE:PJT)
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PJT Companions (NYSE:PJT) inventory drifted down 2.6% in Tuesday afternoon buying and selling after UBS downgraded the funding financial institution to Promote from Impartial as analyst Brennan Hawken sees restricted income expansion within the near-term, given “a considerable ramp in deferred comp expense and a slender trail to enough income expansion.”
Hawken expects the corporate’s deferred comp amortization to upward thrust via 27% this 12 months, a transfer that “will prohibit the facility to generate comp leverage,” he wrote in a be aware.
In all, he thinks PJT (PJT) is getting into a length similar to 2021, when it has bother rising income given difficult pandemic-induced comps and weaker M&A functions.
His Promote score concurs with the SA Quant machine score and diverges from the typical sell-side analyst score of Grasp.
