AllianceBernstein price target lowered to $51 from $54 at BofA

BofA lowered the firm’s price target on AllianceBernstein to $51 from $54 and keeps a Buy rating on the shares after AllianceBernstein reported in-line Q1 EPS. The firm has lowered its 2024, 2025 and 2026 EPS forecasts to $2.98, $3.49, and $4.05, respectively, driven by negative Q2 markets in addition to refinements to its assumptions for the Bernstein research deconsolidation.