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Fly News Breaks for May 28, 2018
FII
May 28, 2018 | 18:14 EDT
Keefe Bruyette analyst Robert Lee upgraded Federated Investors to Market Perform from Underperform while lowering his price target for the shares to $27 from $30. While Federated's long-term flow trends are likely to remain a challenge over the coming months and uncertainty around the Hermes transaction could weigh on the stock, the current valuation "amply prices in the downside risk," Lee tells investors in a research note.
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