Fiera Capital Kept at Hold as Analyst Maintains $7.50 Price Target Amid Persistent Net Outflows

Etienne Ricard, an analyst from BMO Capital, maintained the Hold rating on Fiera Capital A. The associated price target remains the same with C$7.50.

Etienne Ricard has given his Hold rating due to a combination of factors tied to Fiera Capital’s fundamentals and current market positioning. He notes that, despite the shares looking inexpensive on a free cash flow basis, persistent net outflows in core public market strategies and only gradually improving trends in PineStone sub-advised assets limit the likelihood of a swift valuation re-rating.

He also emphasizes that his longer-term earnings forecasts have edged lower following recent AUM developments, reinforcing a cautious stance. While the downside appears partly cushioned by an attractive yield, buybacks, and a diversified mix across public and private markets, the absence of clear, near-term catalysts and the ongoing need for sustainably positive net flows support maintaining a Hold, with the price target kept unchanged at $7.50.

According to TipRanks, Ricard is a 5-star analyst with an average return of 24.1% and a 65.96% success rate. Ricard covers the Financial sector, focusing on stocks such as Fiera Capital A, goeasy, and Sprott.