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

In a report published Friday, Jefferies reiterated its Buy rating on Affiliated Managers Group AMG, and raised its price target from $162.00 to $166.00. Jefferies noted, “Earlier this week we spent time with the management of AMG. Overall, the company continues to deliver on its global distribution efforts and differentiate itself from the peer group in terms of organic growth, opportunities for accretive capital deployment and leverage to improving domestic fund flow trends. Demand for alternatives and int'l/global products is showing no signs of abating and the M&A pipeline continues to build.” Affiliated Managers Group closed on Thursday at $143.13.