Wells Fargo Starts Manning & Napier (MN) at Outperform; Above-Average Organic Growth Rate Likely To Continue
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Price: $20.00 --0%
Rating Summary:
3 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
3 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade MN Now!
Wells Fargo initiates coverage on Manning & Napier (NYSE: MN) with an Outperform. PT $16.00.
Wells analyst says, "Over the past decade, Manning & Napier has produced above-average organic growth with solid long-term performance. With plans to expand the distribution network geographically in addition to the expectation for above-average growth and solid investment performance, we believe Manning has the ability to grow meaningfully. The shares currently trade at a discount to the asset management space based on 2012 estimates and are expected to provide a yield greater than peers'. Thus, we believe the shares reflect a good entry point for investors."
"We are introducing 2011, 2012, and 2013 economic net income/share estimates of $1.05, $1.17, and $1.35 respectively."
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 $12.86 yesterday, with a 52 week range of $11.76-$13.21.
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Wells analyst says, "Over the past decade, Manning & Napier has produced above-average organic growth with solid long-term performance. With plans to expand the distribution network geographically in addition to the expectation for above-average growth and solid investment performance, we believe Manning has the ability to grow meaningfully. The shares currently trade at a discount to the asset management space based on 2012 estimates and are expected to provide a yield greater than peers'. Thus, we believe the shares reflect a good entry point for investors."
"We are introducing 2011, 2012, and 2013 economic net income/share estimates of $1.05, $1.17, and $1.35 respectively."
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 $12.86 yesterday, with a 52 week range of $11.76-$13.21.
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