With their acquisition of Trilogy Advisors expected to close earlier than expected, along with an improving performance in domestic and international markets, Affiliated Managers Group (NYSE:AMG) is positioned for strong growth, according to Jefferies (NYSE:JEF).
They are raising their EPS estimate in the fourth quarter from $1.87 to $1.96, directly related to the deal for Trilogy Advisors closing sooner than originally thought. Full year EPS estimate was boosted from $7.15 to $7.30.
Also noted was increased performance fees and higher asset levels to the EPS revisement.
Jefferies maintains a "Buy" rating on Affiliated Managers, which was trading at $101.36, down $3.22, or 3.07 percent, as of 1:25 PM EST. They raised their price target on Affiliated from $98 to $117.
No comments:
Post a Comment