Virtus Investment rises after Piper Sandler assumes coverage with 'overweight'

Virtus Investment Partners

20/12/2023 15:48

** Shares of traditional asset manager Virtus Investment
Partners  VRTS.O  rise 3% to $233.4
    ** Piper Sandler assumes coverage with "overweight" rating
and $264 PT
    ** Brokerage says Virtus' valuation too attractive to ignore
despite headwinds for traditional asset managers
    ** Says consolidation could pick up and traditionals could
become more diversified in areas such as alternatives
    ** Up to last close, stock up 18.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))