SEI Investments price target raised to $96 from $87 at Oppenheimer

Oppenheimer raised the firm’s price target on SEI Investments (SEIC) to $96 from $87 and keeps an Outperform rating on the shares. Key market indices saw a sharp recovery since early April. The firm estimates that the S&P 500 and Russell 2000 increased 10% and 8% quarter-over-quarter in Q2, respectively. Oppenheimer believes it is driven by increased clarity on tariff policy and ceasefire in the Middle East. It led the firm to revise its estimate of SEI’s assets under administration up by 2% quarter-over-quarter from $1.61T in Q1 to $1.64T in Q2. The outlook for equity market is also more stable currently compared to two months ago. This backdrop is favorable for SEI to continue its strength in net sales events, which reached a record of $153M in TTM Q1, Oppenheimer adds.