UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Affiliated Managers Group

In a report published Wednesday, Jefferies reiterated its Buy rating on Affiliated Managers Group AMG, and raised its price target from $155.00 to $162.00. Jefferies noted, “AMG recorded a 11th consecutive quarter of positive flows with $5.1B of net inflows during a quarter marked by elevated active equity outflows industry-wide. The long-term opportunity set for continued capital deployment remains attractive as does organic growth potential across the company's growing global distribution network.” Affiliated Managers Group closed on Tuesday at $146.50.