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Fly News Breaks for February 20, 2020
BEN, LM
Feb 20, 2020 | 07:42 EDT
RBC Capital analyst Kenneth Lee downgraded Legg Mason (LM) to Sector Perform from Outperform with a price target of $50, up from $47, after its announced acquisition by Franklin Templeton (BEN) at that price. The analyst remains positive on the company's "diversification across investment strategies, vehicles, and distribution channels, amid changing industry trends."
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