BMO Capital raised the firm’s price target on Victory Capital to $51 from $47 and keeps an Outperform rating on the shares after its Q4 earnings beat. 2024 could prove rich in catalysts for the company with potential for improving net flows, acquisition optionality and a reduced private equity overhang, the analyst tells investors in a research note. Victory’s margin performance and capital deployment track record are peer-leading, though its stock continues to trade at a discount due to a private equity sell-down, which appears set to moderate, the firm added.
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Read More on VCTR:
- Victory Capital raises quarterly dividend 5% to 33.5c per share
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- Victory Capital price target raised to $28 from $26 at Morgan Stanley
- Victory Capital reports AUM of $166.6B as of December 31, 2023