Affiliated Managers Group Inc. (NYSE: AMG) is considered one of the top undervalued asset management stocks to buy. Jefferies raised its price target to $282 and revised earnings estimates, citing strong momentum in AMG’s alternative investment business. The company reported earnings below estimates and revenue of $516.4 million for Q3.

Jefferies highlighted AMG’s active pipeline of new investment opportunities and focus on innovation as driving future growth. The company manages around $804 billion in assets and partners with 40 independent firms. CEO Jay Horgen emphasized strategic expansion in alternative investments, including collaborations with BBH to develop new products for the US wealth market.

In a move to meet demand for credit solutions, AMG entered a strategic collaboration with Brown Brothers Harriman. As an independent investment management company, AMG invests in partner-owned investment firms, offering support in strategy, distribution, and product development. The company sees potential for long-term value and earnings growth.

While AMG offers investment potential, certain AI stocks may present greater upside and less downside risk. For those seeking undervalued AI stocks with growth potential, consider exploring opportunities beyond AMG.

Read more at Yahoo Finance: Is Affiliated Managers Group Inc. (AMG) One of the Top Undervalued Asset Management Stocks to Buy?