Artisan Partners price target raised to $45 from $39 at TD Cowen

TD Cowen analyst Bill Katz raised the firm’s price target on Artisan Partners (APAM) to $45 from $39 and keeps a Hold rating on the shares. The firm raised its estimates on more palpable prospects, the limited consensus seems too pessimistic on margins, and they see management more actionable on team lift outs/small M&A.