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Fly News Breaks for October 13, 2016
LM
Oct 13, 2016 | 09:29 EDT
Gabelli analyst Macrae Sykes noted that Legg Mason was mentioned yesterday in a report as a potential target for a strategic investment for a Japanese firm, which he believes would make sense as Japanese firms look to non-Japanese investments to improve returns. Legg Mason already has a 10% Asian investor in Shanda Group, notes Sykes, who tweaked his model slightly after Legg Mason reported AUM of $733B for the month of September. The analyst has a Buy rating on Legg Mason shares.
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