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LM

Legg Mason

$41.89

-0.03 (-0.07%)

08:37
12/26/17
12/26
08:37
12/26/17
08:37

Citi mixed on Legg Mason buying shares from Shanda

Citi analyst William Katz sees "mixed implications" from Legg Mason buying 5.5M of its shares from Shanda Asset Management at a price of $40.50. The positives include accelerating repurchases, accretion net of borrowing costs, and the removal of an overhang related to possible secondary following the prior sale by Shanda, Katz tells investors in a research note. The negatives include no further buyback now until Q4 of 2018 as management works down the leverage and 2018 likely not including material deals to accelerate the shift to a customization platform, the analyst adds. He keeps a Neutral rating on Legg Mason with a $42 price target.

LM Legg Mason
$41.89

-0.03 (-0.07%)

07/13/17
07/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Seagate (STX) downgraded to Underweight from Equal Weight at Barclays with analyst Mark Moskowitz saying he believes upside potential from current levels is limited. 2. AT&T (T) downgraded to Neutral from Buy at BofA/Merrill with analyst David Barden citing reduced visibility into catalysts such as corporate tax reform and potential headwinds from the Time Warner (TWX) merger. 3. Legg Mason (LM) downgraded to Neutral from Buy at Citi with analyst William Katz citing valuation with the shares up 31% year-to-date. 4. Dana Holding (DAN) downgraded to Negative from Neutral at Susquehanna. 5. Calgon Carbon (CCC) downgraded to Neutral from Buy at Janney Capital with the firm citing the amendment to the ballast water convention approved by the International Maritime Organization, that delays the implementation schedule by two years. Given the lowered estimates, the firm cut its fair value estimate on the stock to $16 from $18. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/08/17
LEHM
09/08/17
INITIATION
Target $39
LEHM
Equal Weight
Legg Mason initiated with an Equal Weight at Barclays
Barclays analyst Jeremy Campbell started Legg Mason with an Equal Weight rating and $39 price target. The analyst initiated U.S. Brokers, Asset Managers & Exchanges with a Neutral industry view.
10/05/17
MSCO
10/05/17
DOWNGRADE
MSCO
Underweight
Legg Mason downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Michael Cyprys downgraded Legg Mason to Underweight citing premium valuation and risk to consensus estimates. The analyst trimmed Legg Mason's price target to $36 from $37.
10/17/17
DBAB
10/17/17
INITIATION
Target $44
DBAB
Buy
Legg Mason initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell started Legg Mason with a Buy rating and $44 price target.

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OKTA

Okta

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INTU

Intuit

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  • 12

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CIT

CIT Group

$55.27

-0.06 (-0.11%)

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EDU

New Oriental Education

$101.38

4.82 (4.99%)

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TAL

TAL Education

$43.74

1.11 (2.60%)

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07:48
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DRI

Darden

$85.72

-0.23 (-0.27%)

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PBR

Petrobras

$15.10

-0.6 (-3.82%)

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PBR

Petrobras

$15.10

-0.6 (-3.82%)

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PRPO

Precipio

$0.50

0.0143 (2.94%)

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QURE

uniQure

$32.87

0.56 (1.73%)

07:44
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MSFT

Microsoft

$98.72

1.16 (1.19%)

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WSM

Williams-Sonoma

$49.21

1.91 (4.04%)

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LB

L Brands

$34.05

0.06 (0.18%)

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GE

General Electric

$14.17

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MIDD

Middleby

$104.42

1.88 (1.83%)

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DE

Deere

$156.59

1.52 (0.98%)

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SAFM

Sanderson Farms

$107.13

1.19 (1.12%)

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  • 24

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TRP

TransCanada

$42.26

-0.72 (-1.68%)

07:35
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