Federated Hermes price target raised to $39 from $36 at RBC Capital

RBC Capital raised the firm’s price target on Federated Hermes (FHI) to $39 from $36 and keeps a Sector Perform rating on the shares. Federated’s Q3 EPS beat was mostly due to seed capital gains relative to the firm’s estimates, and net flows were much better than anticipated, the analyst tells investors in a research note. The firm thinks the risk/reward is balanced.