Virtus Investment price target lowered to $161 from $198 at Morgan Stanley

Morgan Stanley analyst Michael Cyprys lowered the firm’s price target on Virtus Investment (VRTS) to $161 from $198 and keeps an Underweight rating on the shares. Slower economic growth and prolonged uncertainty is seen pressuring fund flows and net asset values, notes the analyst, who cut 2025 and 2026 EPS estimates for the asset managers by 10% and 12%, respectively, reflecting the drawdown in financial assets through April 3. The firm sees additional downside risk if the market drawdown persists, the analyst added.