TD Cowen lowered the firm’s price target on AllianceBernstein (AB) to $34 from $37.50 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 AB:
- AllianceBernstein reinstated with an Equal Weight at Barclays
- AllianceBernstein downgraded to Neutral from Buy at BofA
- Equitable Holdings upgraded to Buy from Neutral at UBS
- Equitable announces extension of cash tender offer for AllianceBernstein units
- AllianceBernstein Appoints Thomas Simeone as CFO
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