BofA/Merrill Lynch Upgrades AllianceBernstein (AB) to Buy

BofA/Merrill Lynch upgraded AllianceBernstein (NYSE: AB) from Neutral to Buy and maintains a price target of $32.00.

Analyst Michael Carrier expects flows and growth to strengthen in 2015 given a solid institutional pipeline, improving
investment performance and growth in newer product strategies.

Carrier also notes, as an MLP, the company distributes nearly all of its quarterly earnings, providing an attractive high-single-digit yield.

For an analyst ratings summary and ratings history on AllianceBernstein click here. For more ratings news on AllianceBernstein click here.

Shares of AllianceBernstein closed at $27.46 yesterday.

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