Fiera Capital Downgraded to Underperform at RBC

07:54 AM EDT, 10/16/2026 (MT Newswires) -- Fiera Capital (FSZ.TO) was downgraded to underperform from sector perform at RBC Capital Markets on Friday. Analyst Bart Dziarski lowered his price target on shares of the Toronto-based asset management firm to CA$3.25 from CA$4.70. On Wednesday, Fiera announced its Q3 assets under management that included an approximate 20% annualized net outflow rate, and a quarterly AUM decline of 7.4%, Dziarski said in a note to clients. "We have lowered our 2027 and 2028 estimates to assume elevated outflows persisting near term," he said. (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)