** Jefferies raises PT on asset manager AMG AMG.N to $276 from $243; retains "buy" rating

** Shares of AMG rise 0.8% to $232.81 premarket

** Brokerage sees AMG's alternative investment business performing well as company pivots towards high-margin and durable revenue streams

** Also notes that long-only (L/O) segment remains in net outflow, but has fewer headwinds as firms such as Artemis are showing improving trends

** Jefferies sees AMG's focus on strategic partnerships as newer contributors to growth following announcement of its collaboration with Brown Brothers Harriman

** Brokerage expects AMG to leverage its industry expertise and expand its footprint in structured credit, a fast-growing segment in wealth management

** As of last close, AMG shares up ~25% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))