Piper Sandler analyst Sumeet Mody double upgraded Victory Capital to Overweight from Underweight with a price target of $35, up from $27. The firm cites the company’s "peer-leading" EBITDA margins, "resilient performance" on a one, three and five year basis and above average flow expectations for the upgrade. The analyst sees potential for accelerated organic growth from acquisitions in the near term and believes the stock should trade at least inline with the peer group average.
Published first on TheFly
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