UPDATE: Jefferies Initiates Coverage on Artisan Partners Asset Management on Multiple Positive Factors

In a report published Thursday, Jefferies analyst Surinder Thind initiated coverage on Artisan Partners Asset Management (NYSE: APAM) with a Buy rating and $61.00 price target.

In the report, Jefferies noted, “We are initiating coverage of APAM with a Buy rating and a $61 price target. With a highly disciplined growth strategy, industry leading fund performance, concentrated exposure to equities, and tailwinds from a favorable shift in secular flow trends, we believe APAM will continue to gain market share and, ultimately, provide superior returns to its investors.”

Artisan Partners Asset Management closed on Wednesday at $51.53.