Houlihan Lokey rises after Wells Fargo upgrades to 'overweight'

Shares of investment bank Houlihan Lokey HLI.N rise as much as 3.8%; last up 2.3% at $157.96 in afternoon trade

Wells Fargo Securities upgrades HLI to "overweight" from "underweight", according to data compiled by LSEG

Stock outperforms rival U.S. investment banks

Three of nine brokerages rate the stock "buy", four "hold" and two "sell" or lower; with a median PT of $196.50

HLI stock down 8.9% YTD