In a report released today, Alexander Paris from Barrington reiterated a Buy rating on Affiliated Managers, with a price target of $240.00.
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Alexander Paris has given his Buy rating due to a combination of factors that highlight Affiliated Managers Group’s (AMG) strong financial performance and strategic investments. The company reported second quarter results that met or exceeded expectations, with a notable increase in economic EPS and strong net client cash inflows, indicating robust demand for its offerings. AMG’s strategic focus on private markets and liquid alternative strategies has been a key driver of its growth, as evidenced by its recent partnerships and acquisitions that align with areas of secular growth.
Furthermore, AMG’s shares have shown significant appreciation, outperforming its peer group, yet they still trade at a discount relative to peers. This valuation, combined with the company’s strategic positioning and growth prospects, supports the Buy rating. The company’s ongoing investments in high-quality independent firms and its shift towards alternative strategies are expected to enhance its long-term revenue and earnings growth, making it an attractive investment opportunity.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $338.00 price target.