Analyst Etienne Ricard from BMO Capital maintained a Hold rating on Fiera Capital A and keeping the price target at C$8.00.
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Etienne Ricard’s rating is based on Fiera Capital’s recent performance and market positioning. The company has shown its best net flow performance in the last 18 quarters, driven by increased demand for public market equities and the introduction of a new private strategy. Despite these positive developments, Ricard maintains a Hold rating because a consistent improvement in net flows is necessary for the stock’s valuation to expand.
Fiera’s public markets strategies have seen a significant turnaround with $0.8 billion in net flows, marking a notable improvement from previous outflows. Additionally, the private markets have experienced their best quarterly net flows in three years. However, the stock trades at a discount compared to its historical average, and the downside risk is framed at $5 with potential upside at $11. The target price remains at $8, reflecting a balanced view of the company’s potential and current market conditions.
According to TipRanks, Ricard is a 5-star analyst with an average return of 24.7% and a 66.95% success rate. Ricard covers the Financial sector, focusing on stocks such as Sprott, Fiera Capital A, and Equitable Group.