TD Cowen analyst Bill Katz lowered the firm’s price target on Affiliated Managers (AMG) to $168 from $187 and keeps a Hold rating on the shares. Ahead of the Q1 reports, the firm reduced estimates for asset managers and retail brokers, and increased numbers for the exchanges. Charles Schwab (SCHW) remains TD’s top overall pick, followed by Apollo Global (APO). The analyst also added Janus Henderson (JHG) to the firm’s top three picks, replacing Blackstone (BX).
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Read More on AMG:
- Affiliated Managers price target lowered to $200 from $215 at Barrington
- Affiliated Managers price target lowered to $195 from $211 at BofA
- Affiliated Managers explores sale of Comvest stake, Bloomberg reports
- Affiliated Managers files automatic mixed securities shelf
- Affiliated Managers price target lowered to $210 from $212 at Deutsche Bank
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