Federated Hermes price target raised to $56 from $55 at RBC Capital

RBC Capital raised the firm’s price target on Federated Hermes (FHI) to $56 from $55 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 results for asset managers. The firm notes that it still sees potential and ongoing industry consolidation for 2026, adding that M&A activity could be driven by asset managers’ desire to further diversify their investment strategy or increase economies of scale. For the company, management commentary on 2026 net flows at RBC financials conference in March was slightly better than previously published assumptions, the analyst tells investors in a research note.