Franklin Resources price target lowered to $15 from $18 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Franklin Resources (BEN) to $15 from $18 and keeps an Underweight rating on the shares. Slower economic growth and prolonged uncertainty is seen pressuring fund flows and net asset values, notes the analyst, who cut 2025 and 2026 EPS estimates for the asset managers by 10% and 12%, respectively, reflecting the drawdown in financial assets through April 3. The firm sees additional downside risk if the market drawdown persists, the analyst added.