AssetMark well-positioned to execute on tailwinds - Raymond James

AssetMark Financial Holdings

12/04/2022 18:18

** AssetMark Financial's shares  AMK.N  up 1.5% at $21.71 in
afternoon trade 
    ** Brokerage Raymond James maintains "strong buy" rating,
but trims PT to $37 from $45, implying an upside of ~73% to the
stock's last close 
    ** Brokerage raises 2022 EPS estimates to $1.80 from $1.70  
    ** Says market returns exceeded its expectations as broader
equity markets rebounded late in the quarter
    ** Also sees Fed rate hikes as a tailwind for co, driving
EPS higher in 2022 
    ** Three of seven brokerages rate the stock "buy" or higher,
four "hold"; their median PT is $34 - Refinitiv
    ** Shares down ~17.2% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))