Artisan Partners price target lowered to $43 from $48 at RBC Capital

RBC Capital lowered the firm’s price target on Artisan Partners (APAM) to $43 from $48 and keeps an Outperform rating on the shares after its Q1 results. The management continues to evaluate platform expansion opportunities while the firm still believes that any meaningful pickup in non-U.S. and emerging market demand could benefit the company, the analyst tells investors in a research note. RBC adds it continues to favor Artisan’s focus on differentiated outcomes for its clients, high-value-add strategies and capital return through dividends story.