UPDATE: Bank of America Upgrades Cohen & Steers; Raises PT

According to a research report published earlier today, Bank of America has upgraded Cohen & Steer (NYSE: CNS) from Neutral to Buy, and increased PT to $38.

In the report, Bank of America commented, “Earlier this week, CNS reported March mutual fund inflows of $461mn, well above previous monthly reports. Net inflows had already increased to >$200mn in January and February from ~$50mn per month in 2H11. Similarly, gross mutual fund sales have risen from ~$300mn monthly in 2011 to $705mn in March.”

Cohen & Steer closed yesterday at $34.07.

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