Analyst Alexander Paris of Barrington reiterated a Buy rating on Affiliated Managers, boosting the price target to $295.00.
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Alexander Paris has given his Buy rating due to a combination of factors, including Affiliated Managers Group’s strong financial performance and positive future outlook. In the third quarter, AMG reported a significant increase in adjusted EBITDA and economic EPS, both exceeding estimates and management’s guidance. This robust performance was supported by a notable rise in aggregate fees and net client cash inflows, indicating healthy organic growth.
Furthermore, AMG’s management has provided optimistic guidance for the fourth quarter, with expectations for adjusted EBITDA and economic EPS to surpass current estimates. The company’s strategic focus on alternative strategies and private markets fundraising has contributed to its impressive asset growth. Despite a strong year-to-date share price increase, AMG’s stock still trades at a discount compared to its peers, offering an attractive investment opportunity. Consequently, Alexander Paris has reiterated an OUTPERFORM rating and raised the 12-month price target, reflecting confidence in AMG’s continued growth potential.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $265.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMG in relation to earlier this year.