Houlihan Lokey Estimates Cut by Morgan Stanley as Sponsor M&A Recovery Lags
() -- Investment banking advisory firms are expected to benefit from large corporate M&A activity, though a slower recovery in sponsor-backed deals could weigh on the sector ahead of Q2, Morgan Stanley said in a note on Thursday. The firm lowered its estimates for Houlihan Lokey (HLI) and Lazard (LAZ) ahead of Q2 earni