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LM

Legg Mason

$35.68

0.295 (0.83%)

17:40
05/20/19
05/20
17:40
05/20/19
17:40

Legg Mason names Nelson Peltz, Ed Garden to board of directors

Legg Mason announced that it has increased the size of its Board of Directors from 10 to 12 members and has appointed Nelson Peltz and Ed Garden of Trian Fund Management to the company's Board of Directors, effective immediately. Peltz is CEO and a Founding Partner and Garden is Chief Investment Officer and a Founding Partner of Trian Partners. Trian Partners currently beneficially owns approximately 4.5% of Legg Mason's outstanding common stock. Trian will also identify a third independent director candidate who, following Board approval, will be included as a director nominee on the slate of nominees recommended by the Board in the proxy statement for its upcoming Annual Meeting. Additionally, as part of its refreshment process, the Board will appoint or nominate for election at least two additional independent candidates at or in connection with the 2019 Annual Meeting of Stockholders. The three new independent directors will replace three incumbent directors, two of whom have reached the company's retirement age guidelines.

LM Legg Mason
$35.68

0.295 (0.83%)

02/05/19
SBSH
02/05/19
UPGRADE
SBSH
Buy
Legg Mason upgraded to Buy from Neutral at Citi
Citi analyst Citi analyst William Katz upgraded Legg Mason to Buy.
02/05/19
WELS
02/05/19
NO CHANGE
Target $34
WELS
Outperform
Legg Mason price target raised to $34 from $29 at Wells Fargo
Wells Fargo analyst Christopher Harris raised his price target for Legg Mason to $34 from $29, while reiterating an Outperform rating on the shares. The company's Q3 was quite noisy because of various charges, but the bigger news was the unveiled plan to implement a new operating platform expected to produce material cost savings, he notes.
02/05/19
02/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Covanta (CVA) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Lee saying he expects near-term U.K. project pipeline catalysts to highlight the company's medium-to-long term growth potential. 2. Booking Holdings (BKNG) upgraded to Buy from Hold at Deutsche Bank with analyst Lloyd Walmsley saying Booking's room night growth can accelerate in 2019 as the company "leans back into marketing channels," and this can drive multiple expansion. 3. Regenxbio (RGNX) upgraded to Strong Buy from Outperform at Raymond James with analyst Reni Benjamin saying his recent talks with management gave him added information on RGX-314 in patients with wet age-related macular degeneration and an update on the company's other gene therapy programs. 4. Legg Mason (LM) upgraded to Buy from Neutral at Citi. 5. Nine Energy Services (NINE) upgraded to Buy from Hold at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/19
RBCM
05/14/19
NO CHANGE
Target $39
RBCM
Outperform
Legg Mason price target raised to $39 from $35 at RBC Capital
RBC Capital analyst Kenneth Lee raised his price target on Legg Mason to $39 to reflect the upward drift in its peer group multiples since his last revision. The analyst also notes that the company's Q4 earnings were "in-line" and reduces his FY20 EPS outlook by 12c to $3.25 given his expected impact from its strategic restructuring and assumption of no buybacks this year, but keeps his Outperform rating on Legg Mason shares.

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ALXN

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GCP

GCP Applied Technologies

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NRZ

New Residential

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MRK

Merck

$83.30

0.52 (0.63%)

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AstraZeneca

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TTMI

TTM Technologies

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BCE

BCE

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JPMorgan

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ARRY

Array BioPharma

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TSLA

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DIS

Disney

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UTX

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NVDA

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AL

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