TD Cowen raised the firm’s price target on AllianceBernstein (AB) to $40 from $36.50 and keeps a Hold rating on the shares. The firm said they exited the Q3 conferene call with a mixed view. Favorably, there are some strong pockets of organic growth while conversely, the bulk of easy margin expansion lift is behind, relative performance in Equities and FI is mixed, and valuation seems full.
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