Federated Hermes price target raised to $51 from $45 at RBC Capital

RBC Capital analyst Kenneth Lee raised the firm’s price target on Federated Hermes (FHI) to $51 from $45 and keeps a Sector Perform rating on the shares. The firm is revising its estimates post Q2 results based on its view of an improving outlook for equity organic growth for Federated Hermes, given equity net flows continuing to trend better than expected, the analyst tells investors in a research note.