Lazard had its Relative Strength (RS) Rating upgraded from 88 to 91 Friday.
This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
History shows that the best-performing stocks often have an RS Rating north of 80 at the beginning of a new run.
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Lazard has moved more than 5% past a 42.10 entry in a first-stage double bottom, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 280%, compared to 117% in the prior report. Revenue increased from 7% to 49%.
Lazard holds the No. 3 rank among its peers in the Finance-Investment Banking/Brokers industry group. LPL Financial Holdings is the top-ranked stock within the group.
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