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Fly News Breaks for September 9, 2016
LM
Sep 9, 2016 | 05:44 EDT
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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