Barclays raised the firm’s price target on Virtus Investment (VRTS) to $212 from $207 and keeps an Underweight rating on the shares. The company’s Q3 earnings beat despite a miss in management fees and net flows, as modestly lower adjusted net income was helped by a lower share count, the analyst tells investors in a research note. The firm says management continues to be focused on new product development and capital allocation.
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