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Fly News Breaks for November 10, 2016
BEN
Nov 10, 2016 | 05:40 EDT
UBS analyst Brennan Hawken upgraded Franklin Resources to Neutral saying the U.S. election results benefit the company "as both a repatriation story and the likely softening" of the Department of Labor rule. Franklin's nearly $6B in cash overseas could translate into a 22% yield as a special dividend or 29% accretion to earnings if returned via buybacks, Hawken tells investors in a research note. He raised his price target for the shares to $38 from $28.
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