• Most Popular
  • Most Shared

AllianceBernstein stock could jump next year: Barron's

NEW YORK
Sun Nov 30, 2008 4:36pm EST

Stocks

   

NEW YORK (Reuters) - U.S. asset manager AllianceBernstein Holding's (AB.N) stock could jump at least 50 percent in the next year if equities markets recover, after being hammered this year due to the financial crisis, according to an article in the December 1 edition of Barron's.

Asian Markets

AllianceBernstein has been one of the worst performers in the investment-management sector in 2008, with a 75 percent decline in its stock, Barron's said, dragged down by sizable stakes in troubled insurer American International Group (AIG.N), brokerage Merrill Lynch MER.N, and bank Morgan Stanley (MS.N).

But Barron's said the asset manager had a strong balance sheet and was trading at a relatively low level compared to peers such as Franklin Resources (BEN.N) and T. Rowe Price (TROW.O), suggesting its stock could soar at least 50 percent in the next year if equities jumped.

(Reporting by Juan Lagorio; editing by Jan Paschal)
Asian Markets


More from Reuters

Photo

Plot exposes fissure in U.S. intelligence community

WASHINGTON (Reuters) - Last week's failed plot to bomb a U.S. passenger jet has exposed lingering fissures within the U.S. intelligence community, which had information from interviews and clandestine intercepts but did not put the pieces together, officials said.

» More Top News
Floor traders work at the Hong Kong Stocks Exchange, January 16, 2008. REUTERS/Bobby Yip

My way or the highway?

Hong Kong is poised to accept Beijing's accounting standards. That's good. The system, though, is prone to scandal. That's bad.  Full Article 

Global Markets
People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid
Rolfe Winkler:

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article 

    Commentary