Morgan Stanley analyst Michael Cyprys raised the firm’s price target on Virtus Investment (VRTS) to $228 from $224 and keeps an Underweight rating on the shares. For the asset manager group, the firm raised Q4 EPS estimates by 0.7% on average, driven by higher asset under management levels given better markets and flows. The firm notes its forecasts are 5% above Q4 consensus estimates, but thinks it is likely consensus “has yet to mark to market” for the quarter.
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Read More on VRTS:
- Virtus Appoints John Weisenseel to Board of Directors
- Virtus Investment reports preliminary November AUM $186.8B
- Virtus Investment price target raised to $239 from $212 at Barclays
- Virtus Investment price target raised to $274 from $264 at Piper Sandler
- Virtus Investment Partners reports preliminary AUM of $179.4B