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UPDATE: Bank Of America Reiterates On GAMCO Investors On Mixed Factors

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In a report published Monday, Bank of America analyst Adam Q. Beatty reiterated an Underperform rating on GAMCO Investors (NYSE: GBL), but lowered the price target from $83.00 to $81.00.

In the report, Bank of America noted, “We expect GAMCO to underperform the group despite high equity exposure, strong long-term fund performance and solid organic growth. Current year performance fees and investment gains, while potentially strong, appear to be priced into the stock. GAMCO has frequently used its substantial cash balance to pay special dividends or buy back shares. Risks include key man risk, considering the management and PM functions of founder Mario Gabelli, and lack of liquidity in shares of GBL.”

GAMCO Investors closed on Friday at $79.86.

Latest Ratings for GBL

DateFirmActionFromTo
Oct 2014Bank of AmericaMaintainsUnderperform
Sep 2013Bank of AmericaDowngradesBuyUnderperform
Oct 2012Goldman SachsInitiates Coverage OnNeutral

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View the Latest Analyst Ratings

 

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Posted-In: Adam Q. Beatty Bank of AmericaAnalyst Color Price Target Analyst Ratings

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