Affiliated Managers Group: Unfavorable Outlook Is Priced In (Rating Downgrade)
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Affiliated Managers Group (AMG) has been downgraded to a Hold due to its Q3 2024 financial results and Q4 2024 guidance not meeting market expectations. The stock's current valuation reflects its unfavorable outlook.
November 05, 2024 | 12:30 pm
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Affiliated Managers Group has been downgraded to a Hold as its recent financial results and guidance did not meet expectations. The stock's valuation already reflects its unfavorable outlook.
The downgrade to Hold is based on AMG's Q3 2024 results and Q4 2024 guidance failing to meet market expectations. The stock's high-single-digit forward P/E and buyback yield above 10% indicate that the unfavorable outlook is already priced in, suggesting limited upside potential in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100