Victory Capital price target raised to $79 from $72 at RBC Capital

RBC Capital raised the firm’s price target on Victory Capital (VCTR) to $79 from $72 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 for U.S. Asset Managers. The firm forecasts 2025 S&P500 year-end target of 6,600 while noting that asset managers can benefit from operating leverage, also stating that there is a favorable set up for M&A activity in the space, the analyst tells investors in a research note. RBC adds that Victory Capital is “well-positioned” to take advantage of the ongoing industry consolidation, given low pro forma leverage and strong balance sheet, and also due to the company’s fully integrated, centralized, multi-boutique asset manager model that is especially geared toward creating value through M&A transactions.