Piper Sandler raised the firm’s price target on Virtus Investment to $275 from $264 to account for the February AUM release as well as flow and market data through March 21, while keeping an Overweight rating on the shares. While the firm remains cautious on the traditional asset management sector broadly given historical mutual fund flow trends, Piper is encouraged by more recent flow data in Q1 2024 and continues to view Virtus as undervalued.
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Read More on VRTS:
- Virtus Investment reports February AUM of $176.1B vs. $171.1B last month
- Virtus Investment reports preliminary AUM of $171.1B as of January 31
- Virtus Investment price target raised to $285 from $283 at TD Cowen
- Virtus Investment reports Q4 adjusted EPS $6.11, consensus $5.96
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