Acadian Asset Management price target raised to $48 from $43 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the firm’s price target on Acadian Asset Management (AAMI) to $48 from $43 and keeps an In Line rating on the shares. The summer closed on a positive note for the traditional manager group with both stocks and bonds “broadly in the green,” while industry organic growth stayed improved for a fourth consecutive month, the analyst tells investors in an early look at August and Q3 traditional asset manager flows ahead of monthly AUM and flow results coming next week.