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Affiliated Managers price target raised to $240 from $200 at Barrington

Barrington analyst Alexander Paris raised the firm’s price target on Affiliated Managers (AMG) to $240 from $200 and keeps an Outperform rating on the shares. Results for the quarter topped expectations, with Q2 adjusted EBITDA and economic EPS beating the FactSet consensus estimates, the analyst tells investors in a research note. The firm added that the company’s investment in areas of secular growth and its move towards private markets and liquid alternatives are expected to enhance its long-term organic revenue and earnings growth profile.

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