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LM

Legg Mason

09:29
10/13/16
10/13
09:29
10/13/16
09:29

Legg Mason makes sense as target for Japanese investment, says Gabelli

Gabelli analyst Macrae Sykes noted that Legg Mason was mentioned yesterday in a report as a potential target for a strategic investment for a Japanese firm, which he believes would make sense as Japanese firms look to non-Japanese investments to improve returns. Legg Mason already has a 10% Asian investor in Shanda Group, notes Sykes, who tweaked his model slightly after Legg Mason reported AUM of $733B for the month of September. The analyst has a Buy rating on Legg Mason shares.

LM Legg Mason

03/16/16
FBCO
03/16/16
UPGRADE
FBCO
Outperform
Legg Mason upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Craig Siegenthaler upgraded Legg Mason to Outperform citing a "severely" discounted valuation. The analyst raised his price target to $49 from $39 to reflect value benefits from its tax shield and estimates the company will reduce its net debt ratio to 2.1-2.5x from 2.7x. Additionally, Siegenthaler said Legg Mason's has strong free cash flow generation, which it can divert from buybacks to net reduction if market conditions or flows weaken.
03/16/16
03/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Legg Mason (LM) upgraded to Outperform at Credit Suisse by analyst Craig Siegenthaler, who cited a "severely" discounted valuation. He said Legg Mason's has strong free cash flow generation, which it can divert from buybacks to net reduction if market conditions or flows weaken. 2. Mead Johnson (MJN) upgraded to Outperform at Credit Suisse with analyst Robert Moskow saying it makes sense for both Nestle (NSRGY) and Danone (DANOY) to view Mead Johnson as an attractive target at this point in time and believes management and the board would take a bid seriously. 3. Monster Beverage (MNST) upgraded to Conviction Buy at Goldman by analyst Judy Hong, who said the 11% year-to-date pullback in shares has created an attractive entry point. 4. Sherwin-Williams (SHW) upgraded to Buy at Longbow with analyst Dmitry Silversteyn saying the North American paint market appears to be growing at a 3%-5% rate in Q1, suggesting benefits from better weather. 5. Kraft Heinz (KHC) upgraded to Conviction Buy at Goldman by analyst Judy Hong, who said margin upside potential from the company's "aggressive" cost-cutting is being underappreciated by investors. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/18/16
WELS
07/18/16
NO CHANGE
WELS
Legg Mason shares could jump nearly 50%, says Wells Fargo
Wells Fargo believes that Legg Mason's stock could rally nearly 50%, driven largely by cost savings and share buybacks. The firm estimates that the company's EPS could jump about 50% in fiscal 2018. Wells calls Legg Mason "very inexpensive," and keeps an Outperform rating on the shares.
09/09/16
SBSH
09/09/16
NO CHANGE
Target $50
SBSH
Buy
Legg Mason EBITDA guidance points to Q3 upside, says Citi
Citi analyst William Katz believes the Q3 EBITDA guidance provided yesterday by Legg Mason points to earnings upside in the quarter. The analyst's math estimates the outlook translates to a 58c GAAP EPS mid-point equivalent, or 3c above consensus. The stock's non-reaction to the outlook presents a buying opportunity, Katz tells investors in a research note. He maintains a Buy rating on Legg Mason with a $50 price target.

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