Federated Hermes price target raised to $44 from $43 at JPMorgan

JPMorgan analyst Kenneth Worthington raised the firm’s price target on Federated Hermes to $44 from $43 and keeps an Overweight rating on the shares. The analyst believes investors are underestimating the company’s money market assets and management fees. Data released by Federated indicated that its money market assets under management ended Q4 near $560B versus the consensus at $539B, the analyst tells investors in a research note.