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BEN

Franklin Resources

$33.07

-0.15 (-0.45%)

16:32
04/09/18
04/09
16:32
04/09/18
16:32

Franklin Resources reports month-end AUM $737.5B

Franklin Resources reported preliminary month-end assets under management of $737.5B at March 31, compared to $744.9B at February 28. The decrease in assets under management was attributable to net outflows and net market declines. Preliminary average assets under management for the quarter ended March 31, were $751.8B.

BEN Franklin Resources
$33.07

-0.15 (-0.45%)

04/05/18
FBCO
04/05/18
NO CHANGE
Target $34
FBCO
Underperform
Franklin Resources price target lowered to $34 from $39.57 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler lowered his price target for Franklin Resources to $34 from $57 on valuation. The analyst reiterates an Underperform rating on the shares.
04/09/18
BOFA
04/09/18
DOWNGRADE
BOFA
Neutral
Franklin Resources downgraded to Neutral from Buy at BofA/Merrill
04/09/18
BOFA
04/09/18
DOWNGRADE
BOFA
Neutral
Franklin Resources downgraded to Neutral on weak performance at BofA/Merrill
As 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.
04/09/18
04/09/18
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. Westlake Chemical (WLK) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 2. Mettler-Toledo (MTD) downgraded to Neutral from Buy at Goldman Sachs with analyst Patrick Donnelly saying he sees an attractive fundamental backdrop across Tools but is more cautious on the outlook for sales upside at Mettler given his view of a likely moderation of growth in China after a year of catch-up investment in the region. Donnelly also highlights "tough comps" in Labs and Product inspection. 3. Franklin Resources (BEN) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier saying Franklin's bottom half performance and continued outflows limits organic growth and multiple expansion. 4. NewLink Genetics (NLNK) downgraded to Neutral from Overweight at Cantor Fitzgerald and Baird as well as to Hold from Buy at Jefferies. 5. Incyte (INCY) downgraded to Hold from Buy at Gabelli with analyst Jing He citing the "surprising" failure of the Phase 3 ECHO-301 study in melanoma. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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AVLR

Avalara

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-1.375 (-3.81%)

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IVC

Invacare

$16.50

0.15 (0.92%)

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PRO

Pros Holdings

$35.39

-1.91 (-5.12%)

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IIN

IntriCon

$63.85

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ADUS

Addus HomeCare

$59.35

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  • 16

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LABL

Multi-Color

$63.90

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WMT

Walmart

$90.24

-0.565 (-0.62%)

, JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

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Earnings
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Walmart

$90.24

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J.C. Penney

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WUBA

58.com

$58.59

-3.27 (-5.29%)

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Breaking Hot Stocks news story on 58.com »

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WUBA

58.com

$58.59

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WAIR

Wesco Aircraft

$13.65

-0.3 (-2.15%)

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TGI

Triumph Group

$21.10

-0.9 (-4.09%)

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Triumph Group initiated at UBS »

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HXL

Hexcel

$68.40

-1.13 (-1.63%)

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ERJ

Embraer

$18.64

-0.495 (-2.59%)

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CW

Curtiss-Wright

$130.92

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GD

General Dynamics

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Bombardier

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HEI

Heico

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HRS

Harris

$162.73

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NOC

Northrop Grumman

$291.52

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PNC

PNC Financial

$142.03

-0.7 (-0.49%)

, WFC

Wells Fargo

$57.99

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