Credit Suisse Feels Positive On Affiliated Managers Group Following Investor Meetings

In a report published Tuesday, Credit Suisse analyst Craig Siegenthaler reiterated an Outperform rating and $260.00 price target on Affiliated Managers Group (NYSE: AMG).

In the report, Credit Suisse noted, “On 8/21/14, we hosted investor meetings at the Affiliated Managers Group's Prides Crossing offices. Among AMG's management bench, we had the opportunity to meet with both CEO Sean Healey, and CFO Jay Horgen. Following the meetings, we reiterate our Outperform rating and continue to recommend the AMG stock as our top long for 2H14. Specifically, we look for 2-4 acquisition announcements over the next 12 months, while we also look for strong (5-8%) organic growth through 2016. We estimate AMG will generate the highest organic growth in our coverage – but also relatively higher quality flows driven by significant product/manager diversification which drives lower risk/variability in results (versus managers with flow concentration risk).”

Affiliated Managers Group closed on Monday at $204.25.