BofA analyst Craig Siegenthaler lowered the firm’s price target on Victory Capital (VCTR) to $45 from $46 and keeps a Buy rating on the shares. Despite expectations for better returns and year-over-year flow improvement in 2023, the firm’s opinions are mixed on traditional asset managers as the firm expect the rotation from active to passive and large rebalancings into fixed income to mainly benefit AllianceBernstein (AB), BlackRock (BLK) and several private companies, including Vanguard, the analyst tells investors in a traditional asset managers Q3 preview note.
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Read More on VCTR:
- Victory Capital price target lowered to $45 from $47 at BMO Capital
- Victory Capital reports AUM of $161.9B as of August 31
- Victory Capital management to meet virtually with Piper Sandler
- Victory Capital reports AUM of $165.9B as of July 31
- Victory Capital price target raised to $40 from $38 at RBC Capital