BMO Capital raised the firm’s price target on Victory Capital to $57 from $55 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company’s fundamentals are all trending favourably with improving net flows, continued margin expansion, meaningful revenue/cost synergies with Amundi U.S., and capital deployment flexibility, and the post-earnings pullback represents a “buying opportunity”, the analyst tells investors in a research note.
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Read More on VCTR:
- Victory Capital reports Q1 adjusted EPS $1.25, consensus $1.21
- Victory Capital board authorizes 10% increase in quarterly dividend to 37c
- Victory Capital reports AUM of $163.6B as of April 30, 2024
- Victory Capital price target raised to $48 from $37 at UBS
- Victory Capital price target raised to $57 from $48 at B. Riley