Needham & Company Starts Manning & Napier (MN) at Buy; Differentiated Play In The Asset Management Industry

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Needham & Company initiates coverage on Manning & Napier (NYSE: MN) with a Buy. PT $15.00.

Needham analyst says, "MN is a differentiated asset manager with a track record of delivering consistent market-beating investment returns; generating industry-leading organic growth; and maintaining cancelation rates significantly below industry averages. We believe MN can continue to generate organic growth ahead of its peers while at the same time deliver superior margins compared to the industry. At 11x our CY12 EPS estimate, we believe MN offers investors an attractive way to play a potential recovery for the asset management industry with limited downside risk because of its track record of delivering steady margins through market cycles"

For an analyst ratings summary and ratings history on Manning & Napier click here. For more ratings news on Manning & Napier click here.

Shares of Manning & Napier closed at $12.63 yesterday, with a 52 week range of $11.76-$13.24.

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