Artisan Partners price target raised to $39 from $35 at TD Cowen

TD Cowen analyst Bill Katz raised the firm’s price target on Artisan Partners (APAM) to $39 from $35 and keeps a Hold rating on the shares. The firm said despite deeper than expected long term net attrition in 1Q, the firm is incrementally bullish on brewing flow inflection and consensus estimates are well too low, mostly NAV driven, but also likely better operating leverage.