Federated Hermes price target raised to $43 from $37 at RBC Capital

RBC Capital raised the firm’s price target on Federated Hermes (FHI) to $43 from $37 and keeps a Sector Perform rating on the shares after its Q1 earnings beat. Equity net flows are trending better than expected, though fixed income net flows quarter to date in Q2 are trending much weaker than the firm’s previously published expectations, the analyst tells investors in a research note.