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Fly News Breaks for September 13, 2019
LM
Sep 13, 2019 | 06:00 EDT
Wells Fargo analyst Christopher Harris downgraded Legg Mason to Market Perform from Outperform with an unchanged price target of $43. The analyst believes "substantial value" in Legg Mason has now been unlocked following the implementation of an aggressive cost savings plan and the stock's "meaningful" outperformance year-to-date. Further, the analyst anticipates a "challenging backdrop" for revenue growth and as such, views the shares as fairly valued near current levels.
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