** Shares of investment manager Federated Hermes rise as much as 4.5%, last down 3.4% at $39.94
** TD Cowen upgrades FHI to "buy" from "hold"; raises PT to $46 from $35, a 19% upside to stock's last close
** Brokerage now sees a path to favorable long-term flows inflection at FHI as interest rates decline
** Adds that it expects FHI to be a major money markets beneficiary
** Analysts feel the start of the rate normalization cycle in the U.S. is providing a clear tailwind to money market funds as institutions look to lock in investments with a higher return for a longer duration in a falling rate environment
** Four of eight brokerages rate the stock "buy", and four "hold"; median PT is $41 - LSEG
** As of last close, FHI shares were up 17.6% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.