Artisan Partners price target lowered to $40 from $46 at TD Cowen

TD Cowen lowered the firm’s price target on Artisan Partners (APAM) to $40 from $46 and keeps a Hold rating on the shares. The firm’s stance remains tactically most bullish on Traditional Asset Managers, albeit with a tighter focus on higher-conviction ideas, while maintaining exposure to Alternatives with a shift toward more “Higher for Longer” positioning and less 2026 beta, the analyst tells investors in a research note.