Raymond James analyst Wilma Burdis initiated coverage of Alvarium Tiedemann with a Strong Buy rating and $8 price target. The firm likes Alvarium’s unique business model, which is largely uncorrelated with markets, and notes that its business mix is ~50/50 split between and alternative asset management and ultra-high net worth wealth management. AUM/AUA growth will be driven by new client acquisitions and via inflows from existing clients, as well as through acquisitions, the analyst tells investors in a research note.
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