In a report published Thursday, Jefferies analyst Surinder Thind initiated coverage on Virtus Investment Partners VRTS with a Hold rating and $175.00 price target.
In the report, Jefferies noted, “We are initiating coverage of VRTS with a HOLD rating and $175 price target. We believe VRTS has the potential to continue growing at an above industry pace over the next few years. However, near-term the company faces headwinds from lackluster 1-year fund performance and notable exposure to fixed income, which make it more challenging to outperform equity-centric peers. Given these factors, at 16x our 2014 EPS estimate, we see limited upside in the shares.”
Virtus Investment Partners closed on Wednesday at $155.36.
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