AllianceBernstein Holding Upgraded at Bank of America (AB)
AllianceBernstein Holding (NYSE:AB) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Friday. The firm currently has a $29.00 price objective on the stock, up from their previous price objective of $27.00. Bank of America’s price target would suggest a potential upside of 7.89% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein raised their price target on shares of AllianceBernstein Holding to $29.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of AllianceBernstein Holding in a research note on Thursday, August 21st. They set a “hold” rating and a $27.00 price target on the stock. Finally, analysts at Zacks upgraded shares of AllianceBernstein Holding from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $28.30 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.41.
AllianceBernstein Holding (NYSE:AB) opened at 27.12 on Friday. AllianceBernstein Holding has a one year low of $19.50 and a one year high of $28.18. The stock has a 50-day moving average of $26.61 and a 200-day moving average of $25.43. The company has a market cap of $2.626 billion and a price-to-earnings ratio of 15.32.
AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $754.00 million for the quarter, compared to the consensus estimate of $740.70 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that AllianceBernstein Holding will post $1.83 EPS for the current fiscal year.
AllianceBernstein Holding L.P provides research, diversified investment management and related services.
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