TD Cowen analyst Bill Katz lowered the firm’s price target on Virtus Investment (VRTS) to $132 from $135 and keeps a Hold rating on the shares. The firm marked to market the company’s model. Virtus shifted its tax treatment, which improves comparative analysis to peers and likely helps “stem downside risk,” the analyst tells investors in a research note. TD still sees mixed flow prospects for Virtus.
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Read More on VRTS:
- Virtus Investment Partners Updates Non-GAAP Reporting Framework
- Virtus Investment price target lowered to $128 from $142 at Barclays
- 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