Upgrades for Lazard and Carlyle; Yadkin downgraded


Among the movers in the financial sector in the early-going following sell-side moves:

Lazard (LAZ +1.7%) is boosted to a Buy at Nomura on favorable organic growth trends and market share gains in its advisory business.

Carlyle Group (CG +5.1%) is upgraded to a Buy at UBS, which cites the push into retail offerings and the significant win with the hiring Michael Cavanagh from JPMorgan. See also: Carlyle eyeing traditional asset manager purchase as it seeks a higher multiple.

Yadkin Financial (YDKN -1.6%) is lower after KBW rings the register on its Outperform rating.

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