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Fly News Breaks for December 13, 2019
FII
Dec 13, 2019 | 07:42 EDT
JPMorgan analyst Kenneth Worthington downgraded Federated Investors to Neutral from Overweight with a price target of $36, down from $42. The analyst says that while he thought "strong" money fund flows and the earnings growth that resulted would expand Federated's valuation multiple, "that was not the case." He sees the more stable, lower interest rate environment, together with seasonality, as being less conducive for money fund growth.
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