Artisan Partners price target raised to $46 from $41 at TD Cowen

TD Cowen raised the firm’s price target on Artisan Partners (APAM) to $46 from $41 and keeps a Hold rating on the shares. The firm exited 4Q a bit more encouraged on what seems to be an improving LT NNA AOGR outlook, a bit more stability on the base fee rate as EMSights platform scales into intermediary channels, and a bit higher expense outlook