BofA Securities initiated coverage of Moelis (NYSE: MC) on Monday, assigning a Neutral rating and setting a price target of $81.00. That target sits above the stocks quoted price of $73.64 and aligns closely with InvestingPros Fair Value assessment, implying the firm may be modestly undervalued at current levels.
In its research note, BofA positioned Moelis as the 14th-ranked global advisory firm by M&A revenues, attributing to the company a 2.1% share of the worldwide market. The bank noted that this market share has been relatively unchanged compared with five years earlier.
BofA highlighted that Moeliss business mix is heavily concentrated in mergers and acquisitions advisory, which typically represents between 65% and 75% of the companys total revenues. Given that concentration, the bank said Moelis is exposed to the direction of deal activity and therefore stands to benefit from an upswing in transactions.
Looking ahead, the research team at BofA expressed expectations for record M&A activity in 2026, a backdrop the bank judged as potentially supportive for firms with substantial advisory franchises. Despite this, BofA took a measured view on Moeliss shares: while describing the company as "among the best of breed" in its sector, the bank concluded that there are superior risk/reward opportunities elsewhere within its coverage of the investment banking group and that Moeliss relative valuation versus peers informed its Neutral rating.
The initiation comes amid a recent set of reported results and analyst actions. Moelis & Company posted third-quarter 2025 results that beat earnings expectations but missed on revenue. Reported earnings per share were $0.68, versus a $0.59 consensus estimate, while revenue came in at $356.89 million compared with an expected $379.92 million.
Other broker activity referenced in published research included UBSs initiation of coverage on Moelis with a Neutral rating. UBS flagged the firms heavy reliance on sponsor-backed M&A, which it estimated accounted for 65% of Moeliss deal volume. That dependence on sponsor-driven transactions was cited as a point of concern.
Separately, Morgan Stanley initiated coverage on The Magnum Ice Cream Company, assigning an Overweight rating and a price target of EUR16.50. In its note, Morgan Stanley described Magnum as a market leader within the EUR100 billion global ice cream sector and highlighted the companys distinction as the only listed pure-play in that category.
Taken together, the recent rating initiations and Moeliss quarterly figures illustrate active analyst engagement around advisory franchises and consumer listings alike. For investors, the mix of positive earnings surprise, revenue shortfall, concentrated revenue exposure to M&A, and differing viewpoints from large brokerages underscores both the potential upside from a rebound in deal activity and the valuation-based caution applied by some research teams.
Note: This article reports analyst ratings, quarterly results and broker views as described in published research notes and company filings.