JP Morgan Maintains Overweight Rating for Federated Hermes: Here's What You Need To Know

Loading...
Loading...

JP Morgan has decided to maintain its Overweight rating of Federated Hermes FHI and lower its price target from $47.00 to $45.00.

Shares of Federated Hermes are trading up 0.29% over the last 24 hours, at $34.65 per share.

A move to $45.00 would account for a 29.87% increase from the current share price.

About Federated Hermes

Federated provides asset management services for institutional and individual investors. The company had $668.9 billion in managed assets at the end of 2022, composed of equity (12%), multi-asset (1%), fixed-income (13%), alternative (3%), and money market (71%) funds. That said, the firm's cash-management operations are expected to generate around 47% of Federated's revenue this year, compared with 32%, 13%, and 8%, respectively, for the firm's equity, fixed-income, and alternatives/multi-asset operations. From a channel perspective, the company's products are distributed via trust banks, wealth managers and retail broker/dealers (62% of AUM), institutional investors (28%), and international clients (10%).

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst RatingsBZI-AAR-UPDATE
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...