AllianceBernstein named Top Pick, initiated with an Outperform at TD Cowen

TD Cowen analyst Bill Katz initiated coverage of AllianceBernstein with an Outperform rating and $36 price target. The firm has also given the stock a Top Pick designation, stating it is positive on the company’s sustained pathway to above trend Net New Assets, improving base fee rates, improving business mix and step up in profitability, the analyst tells investors in a research note.