Artisan Partners Asset Management Receives New Coverage from Analysts at Jefferies Group (APAM)
Stock analysts at Jefferies Group began coverage on shares of Artisan Partners Asset Management (NASDAQ:APAM) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $61.00 price target on the stock. Jefferies Group’s price target would suggest a potential upside of 18.38% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of APAM with a Buy rating and a $61 price target. With a highly disciplined growth strategy, industry leading fund performance, concentrated exposure to equities, and tailwinds from a favorable shift in secular flow trends, we believe APAM will continue to gain market share and, ultimately, provide superior returns to its investors.”
Artisan Partners Asset Management (NASDAQ:APAM) opened at 51.53 on Wednesday. Artisan Partners Asset Management has a 52-week low of $35.14 and a 52-week high of $56.07. The stock has a 50-day moving average of $50.95 and a 200-day moving average of $48.03. The company has a market cap of $736.2 million and a price-to-earnings ratio of 46.85.
A number of other analysts have also recently weighed in on APAM. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Artisan Partners Asset Management from $55.00 to $57.00 in a research note to investors on Wednesday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks upgraded shares of Artisan Partners Asset Management from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 3rd. They now have a $58.50 price target on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.88.
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