Morgan Stanley analyst Michael Cyprys upgraded Victory Capital (VCTR) to Equal Weight from Underweight with a price target of $60, up from $40. The firm sees the strategic actions taken by management driving better earnings growth and bolstering Victory’s scale with a more integrated and “unique multi-affiliate model that’s poised to continue making bold strategic steps.” The upcoming Amundi deal will reduce the company’s leverage and is both financially and strategically accretive, the analyst tells investors in a research note.
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Read More on VCTR:
- Victory Capital price target raised to $69 from $61 at BMO Capital
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- Victory Capital price target raised to $61 from $55 at RBC Capital
- Victory Capital reports AUM of $176.1B as of September 30, 2024