Oppenheimer Reiterates PT And Rating, Raises Estimates On SEIC

Oppenheimer is reiterating its price target of $29 and its Outperform rating on SEI Investments Company SEIC and has slightly raised its estimates on the stock to reflect recent market strength and improved fund flows. In the report, Oppenheimer writes, “We remain optimistic about SEI's intermediate-term growth prospects and reiterate our $29 PT (21% above current levels). With its well-established customer reference base and strong prospect pipeline, we remain optimistic about the long-term potential of the Global Wealth Platform (GWP), although sales momentum remains slow. We are hopeful that SEI's strong pipeline will drive an improved pace of deal wins in FY11.” SEIC closed at $23.58 yesterday.