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UPDATE: Bank of America Upgrades Affiliated Managers Group to Buy on Potential Acquisitions

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In a report published Wednesday, Bank of America analyst Cynthia Mayer upgraded the rating on Affiliated Managers Group (NYSE: AMG) from Neutral to Buy, and raised the price target from $151.00 to $165.00.

In the report, Mayer noted, “We expect AMG to outperform peers based on faster cash EPS growth which reflects both acquisitions and strong organic growth. AMG invests in boutique managers including hedge funds, using its cash flow in a tax efficient manner to generate further cash earnings. Risks include market volatility (98% of its AUM is in equity or alternatives) which can affect timing of acquisitions, base fee revenues, and performance fees. Its revenue sharing model limits operating leverage and downside volatility.”

Affiliated Managers Group closed on Tuesday at $152.38.

Latest Ratings for AMG

DateFirmActionFromTo
Apr 2015Keefe Bruyette & WoodsMaintainsOutperform
Apr 2015Deutsche BankMaintainsBuy
Apr 2015JefferiesMaintainsBuy

View More Analyst Ratings for AMG
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Analyst Ratings

 

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