RBC Capital raised the firm’s price target on Victory Capital (VCTR) to $72 from $61 and keeps an Outperform rating on the shares. The firm is updating its model after the company’s Q3 earnings beat while also incorporating its preliminary assumptions around the potential accretion related to pending Amundi U.S. transaction, the analyst tells investors in a research note. Victory Capital is well-positioned to take advantage of ongoing industry consolidation, RBC adds.
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