I believe the tide has turned and our Unit price will begin a steady rise as you will see from the attached report issued today by Credit Suisse.
Credit Suisse Raises AllianceBernstein Holding LP to Outperform (AB) August 23rd, 2012 - 0 comments - Filed Under - by Tyrone Williams Filed Under: Stock Market AllianceBernstein Holding LP (NYSE: AB) was upgraded by investment analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. The firm currently has a $16.00 target price on the stock, up from their previous target price of $14.50.
The analysts wrote, “AB Has Improved Its Net Flow Drivers: AB has significant improved both its aggregate relative fund performance, and upgraded / widened its product offering – especially into high growth segments like balanced and high yield fixed income. We think these two fundamental drivers have supported the recent advancement in AB’s (1) institutional pipeline (leading indicator for institutional flows), (2) overall sales, and (3) overall redemption levels. Also, we believe investors are under-appreciating the potential for both fee rate expansion, and margin improvement.”
AllianceBernstein Holding LP opened at 12.81 on Thursday. AllianceBernstein Holding LP has a 1-year low of $11.44 and a 1-year high of $17.28. The company’s market cap is $1.347 billion.
AllianceBernstein Holding LP last released its earnings data on Thursday, August 2nd. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.01. AllianceBernstein Holding LP’s revenue was down 11.8% compared to the same quarter last year. Analysts expect that AllianceBernstein Holding LP will post $1.03 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup upgraded shares of AllianceBernstein Holding LP from a “neutral” rating to a “buy” rating in a research note to investors on Friday, August 10th. They now have a $14.00 price target on the stock, up previously from $13.00. Separately, analysts at Sanford C. Bernstein upgraded shares of AllianceBernstein Holding LP from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, July 26th. Finally, analysts at Bank of America upgraded shares of AllianceBernstein Holding LP from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, July 26th.