On Monday, Victory Capital Holdings, Inc. (NASDAQ:VCTR) saw its price target increased by BMO (TSX:BMO) Capital Markets to $57.00, up from the previous target of $55.00. The firm has maintained an Outperform rating on the company's stock.
Victory Capital's performance indicators are showing a positive trend, according to BMO Capital. The company has reported improved net flows and margin expansion. Additionally, the acquisition of Amundi U.S. is expected to bring significant revenue and cost synergies. BMO Capital also highlighted Victory Capital's flexibility in capital deployment.
The analyst from BMO Capital pointed out that despite Victory Capital's stock appreciating around 40% in the last three months, the valuation remains attractive. This observation comes even as the stock experienced a pullback on Monday.
The firm believes that the current dip in stock price presents a good opportunity for investors. The endorsement of the Outperform rating underscores BMO Capital's confidence in Victory Capital's continued positive trajectory.
Victory Capital Holdings, Inc. specializes in investment management and has been actively pursuing growth strategies, which are reflected in the analyst's optimistic outlook. The revised price target of $57.00 represents BMO Capital's expectation for the stock's future performance.
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