Keefe, Bruyette & Woods Initiates Coverage on Artio Global Investors (ART) with an Outperform
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Keefe, Bruyette & Woods initiates coverage on Artio Global Investors Inc. (NYSE: ART) with an Outperform rating. Price target $30.
Keefe analyst says, "Artio, with $55.8 billion of AUM as of September 30, 2009, is best known as a manager of international equity strategies, which comprise approximately 84% of total AUM. We believe a secular trend toward international investing coupled with an expansion in Artio's product offering should help Artio continue to generate organic growth."
"Target Price Risks: Artio's assets, revenues, and earnings are leveraged to the performance of global equity and bond markets and investment performance of its managed strategies, and the demand for its products is vulnerable to weak investment performance and poor capital market returns. In particular, a large proportion of Artio's AUM are concentrated in two similar international equity strategies."
To see more analyst ratings on ART Click Here.
Artio Global Investors, Inc., an asset management company, provides investment management services to institutional and mutual fund clients.
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