Barclays analyst Benjamin Budish lowered the firm’s price target on Virtus Investment (VRTS) to $128 from $142 and keeps an Underweight rating on the shares. The firm updated its asset manager models to reflect full quarterly flow and asset under management metrics ahead of the Q1 reports. Asset under management estimates fell due to negative markets in Q1, the analyst tells investors in a research note.
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Read More on VRTS:
- Virtus Investment reports preliminary AUM of $149B as of March 31
- Virtus Investment price target lowered to $135 from $155 at TD Cowen
- Virtus Investment price target lowered to $125 from $155 at Morgan Stanley
- Virtus Investment reports reports February AUM $155.9B
- Virtus Expands into Private Markets with Keystone Acquisition