AllianceBernstein price target lowered to $37 from $40 at BofA

BofA analyst Craig Siegenthaler lowered the firm’s price target on AllianceBernstein to $37 from $40 and keeps a Neutral rating on the shares. The firm looks for AllianceBernstein’s net flows to inflect positively after three consecutive quarters of net outflows and generate an annualized organic growth rate of +2% in Q1, the analyst tells investors in a research note.