Jefferies Raises Price Target on Affiliated Managers Group (AMG) to $140
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Price: $169.39 -0.38%
Rating Summary:
3 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
3 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade AMG Now!
Jefferies maintained a Buy Rating on Affiliated Managers Group (NYSE: AMG) and raised its price target to $128.00 (from $140.00).
"Last week we had a chance to spend time with mgt to get caught up on recent trends. AMG is poised to record a 10th consecutive qtr of positive flows and remains entrenched as the industry leader in organic growth," said analyst Daniel T. Fannon.
"While deal flow will likely slow in the near term following an active first half of the year, the long-term opportunity set for continued capital deployment remains attractive."
Jefferies revised 3Q12 cash EPS up $0.03 to $1.91 and took FY 2013 to $9.05 from $8.96.
For an analyst ratings summary and ratings history on Affiliated Managers Group click here. For more ratings news on Affiliated Managers Group click here.
Shares of Affiliated Managers Group closed at $123.00 yesterday, with a 52 week range of $70.27-$127.88.
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"Last week we had a chance to spend time with mgt to get caught up on recent trends. AMG is poised to record a 10th consecutive qtr of positive flows and remains entrenched as the industry leader in organic growth," said analyst Daniel T. Fannon.
"While deal flow will likely slow in the near term following an active first half of the year, the long-term opportunity set for continued capital deployment remains attractive."
Jefferies revised 3Q12 cash EPS up $0.03 to $1.91 and took FY 2013 to $9.05 from $8.96.
For an analyst ratings summary and ratings history on Affiliated Managers Group click here. For more ratings news on Affiliated Managers Group click here.
Shares of Affiliated Managers Group closed at $123.00 yesterday, with a 52 week range of $70.27-$127.88.
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