2018-04-09 06:53:41 | Franklin Resources downgraded to Neutral on weak performance at BofA/MerrillAs previously reported, As previously reported, BofA/Merrill downgraded Franklin Resources to Neutral from Buy and cut its price target to $37 from $50. Analyst Michael Carrier believes Franklin's bottom half performance and continued outflows limits organic growth and multiple expansion. Carrier lowered estimates given weaker Q1 markets, increased outflow expectations, and more muted 2018 return expectations. | |
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