J.P. Morgan raises Victory Capital's PT after upbeat Q1

Victory Clean Energy

09/05/2022 11:52

** J.P. Morgan raises PT on asset management firm  VCTR.O 
to $33 from $30, implying an upside of ~24.2% on the stock's
last close 
    ** Brokerage says co posted one of its strongest quarters in
the backdrop of a challenging macroeconomic environment 
    ** Says VCTR's Q1 adjusted EPS of $1.23 came in ahead of its
expectations with assets under management outperforming 
    ** "AUM flows outperformed expectations on a combination of
stronger inflows and better performance" - JPM 
    ** Adds, VCTR gave a confident outlook for the year as
institutional pipeline remains robust
    ** Six of ten brokerages rate the stock "buy" or higher,
three "hold" and one "sell"; their median PT is $38.50 -
Refinitiv
    ** As of last close, shares was down 27.3% YTD 

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