NEW YORK (TheStreet) -- Affiliated Managers Group (AMG) shares are up 3.7% to $211.83 on Tuesday after analysts at Credit Suisse (CS) reiterated its "outperform" rating and $260 price target for the company's shares.
The outlook is in response to the investors meeting the firm hosted at the global asset managers' offices.
"Specifically, we look for 2-4 acquisition announcements over the next 12 months, while we also look for strong (5-8%) organic growth through 2016. We estimate AMG will generate the highest organic growth in our coverage - but also relatively higher quality flows driven by significant product/manager diversification which drives lower risk/variability in results," said analysts.
TheStreet Ratings team rates AFFILIATED MANAGERS GRP INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate AFFILIATED MANAGERS GRP INC (AMG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."