BofA analyst Craig Siegenthaler lowered the firm’s price target on Victory Capital to $58 from $59 and keeps a Buy rating on the shares as the firm revised earnings estimates ahead of earnings. While BofA reduced its Q2 net flow estimate after Victory reported -$1.7B preliminary net flows in its June AuM release, the firm continues to expect an organic growth improvement in the second half of 2024 and a positive inflection in 2025, the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VCTR:
- Victory Capital reports AUM of $168.7B as of June 30, 2024
- Victory Capital, Amundi execute agreement to become strategic partners
- Victory Capital expands VictoryShares offerings with two new active ETFs
- Victory Capital reports AUM of $168.4B as of May 31, 2024
- Victory Capital price target raised to $56 from $47 at RBC Capital