Market Overview

Citigroup Offers Up A Pair Trade For AllianceBernstein Holding LP And Artisan Partners Asset Management Inc


In a note released Friday morning, Citigroup analyst William Katz initiated an Overweight AllianceBernstein Holding LP (NYSE: AB) and Underweight Artisan Partners Asset Management Inc (NYSE: APAM) pair trade.

Katz's view is that AllianceBernstein is emerging from a "multi-year funk" while Artisan Partners' flow momentum has "stalled."

Six key reason Katz said the trade will generate alpha:

  • AllianceBernstein offers "superior" strategic positioning compared to Artisan Partners
  • Alliance offers better yield
  • The flow at AllianceBernstein is accelerating while volumes at Artisan are "struggling"
  • AllianceBerstein offers better margin expansion potential
  • AllianceBerstein has a greater potential for an "earnings surprise"
  • Deeper upside potential from AllianceBernstein

Latest Ratings for AB

Oct 2019MaintainsBuy
Jul 2019MaintainsBuy
Jun 2019UpgradesNeutralBuy

View More Analyst Ratings for AB
View the Latest Analyst Ratings

Posted-In: Citigroup William KatzAnalyst Color News Initiation Analyst Ratings


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