Piper Sandler lowered the firm’s price target on Virtus Investment to $265 from $275 and keeps an Overweight rating on the shares. The firm notes Virtus posted an in-line quarter and flow trends were markedly better than Q4 2023 and slightly better than Piper’s estimate. In addition, forward flow trend commentary was constructive despite recent volatility with recent trends being similar with Q1 2024, Piper adds.
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