Barclays lowered the firm’s price target on Franklin Resources (BEN) to $19 from $21 and keeps an Underweight rating on the shares as part of a Q4 preview for the brokers, asset managers and exchanges. The firm updated its asset manager models to reflect full quarterly flow and assets under management metrics. Estimates are generally coming down due to lower market performance across the quarter, the analyst tells investors in a research note.
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Read More on BEN:
- Franklin Resources price target lowered to $18 from $19 at BofA
- Franklin Resources reports preliminary AUM $1.58T at December 31
- Franklin Resources price target raised to $21 from $19 at Deutsche Bank
- Franklin Resources upgraded to Neutral from Sell at Goldman Sachs
- Franklin Resources price target raised to $19 from $18 at Morgan Stanley