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UPDATE: Credit Suisse Raises PT on Affiliated Managers Group on Good Potential Ahead

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In a report published Tuesday, Credit Suisse analyst Craig Siegenthaler reiterated an Outperform rating on Affiliated Managers Group (NYSE: AMG), and raised the price target from $166.00 to $180.00.

In the report, Credit Suisse noted, “After additional research on potential changes to AMG's capital structure mix in 2H13, we think AMG has the potential to reduce its 2014 share count to 53.0-53.5M in the absence of future deals which is 3% below current estimates. This assumes (1) the retirement of AMG's 2008 senior convert which is callable on 8/15, (2) the repurchase of its already issued equity forward sale, and (3) incremental share repurchases in 4Q13-4Q14.”

Affiliated Managers Group closed on Monday at $163.06.

Latest Ratings for AMG

DateFirmActionFromTo
Nov 2016Deutsche BankDowngradesBuyHold
Oct 2016JefferiesMaintainsBuy
Oct 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for AMG
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Posted-In: Craig Seigenthaler Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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