B. Riley analyst Matt Howlett raised the firm’s price target on Victory Capital to $48 from $40 and keeps a Buy rating on the shares. The company “impressive” Q4 results, a 5% dividend raise, and probable 2024 acquisition activity, the analyst tells investors in a research note. The firm believes the stock should trade at least at an 8-times multiple, which would still represent a healthy discount to peers.
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Read More on VCTR:
- Victory Capital price target raised to $43 from $40 at RBC Capital
- Victory Capital Holdings Announces January 2024 AUM Update
- Victory Capital reports January AUM $165.5B
- Victory Capital price target raised to $51 from $47 at BMO Capital
- Victory Capital raises quarterly dividend 5% to 33.5c per share