Federated Hermes price target raised to $45 from $43 at RBC Capital

RBC Capital raised the firm’s price target on Federated Hermes (FHI) to $45 from $43 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 results for the U.S. Asset Management industry. The firm cites compounding of AUM from strong market returns seen in Q2 but adding that it would lean towards names with non-US/global AUM exposure, given market returns and the potential for broadening of net flows longer term, the analyst tells investors in a research note.