Morgan Stanley lowered the firm’s price target on Virtus Investment (VRTS) to $170 from $180 and keeps an Underweight rating on the shares after updating the firm’s estimates based on the company’s Assets Under Management month-end disclosure for September. AUM for the quarter came in 4% below the firm’s prior estimate, the analyst noted.
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Read More on VRTS:
- Virtus Investment price target lowered to $175 from $190 at Barclays
- Virtus Investment reports preliminary September AUM of $169.3B
- Virtus Investment price target raised to $180 from $170 at Morgan Stanley
- Virtus Investment Partners Enters New Credit Agreement
- Virtus Investment reports August AUM $170.6B