AllianceBernstein added to ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst John Dunn is adding AlllianceBernstein to the firm’s "Tactical Outperform" list, citing a belief that asset flow improvement is "happening right now" as the headwind of two of its larger funds – the American income and Global High-Yield funds that comprise $33B in AUM – is easing. These funds being lesser drags or getting back to helping driving organic growth would "enable all of what we view as AB‘s five inflow engines to be firing at the same time," said the firm ahead of AlllianceBernstein talking about flows on Thursday. Evercore, which expects to see better-than-anticipated organic growth, has an Outperform rating and $39 price target on the shares.