Credit Suisse analyst Bill Katz upgraded AllianceBernstein to Outperform from Neutral with a price target of $43.50, up from $32. The analyst sees "solid absolute upside" given the company’s Q4 earnings upside and dividend yield. AllianceBernstein’s story is "too good to ignore," with the company positioned to benefit from faster organic growth and improved fixed income allocations, the analyst tells investors in a research note.
Published first on TheFly
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Read More on AB:
- AllianceBernstein reports preliminary AUM $680B as of January 31
- AllianceBernstein cuts over 100 jobs, Bloomberg reports
- ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FOURTH QUARTER RESULTS
- AllianceBernstein reports Q4 adjusted EPS 70c, consensus 57c
- AllianceBernstein added to ‘Tactical Outperform’ list at Evercore ISI
