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LM

Legg Mason

$36.91

-0.25 (-0.67%)

19:00
05/23/19
05/23
19:00
05/23/19
19:00

Legg Mason to cut 12% of its workforce, FT reports

Legg Mason plans to cut 120 employees, or 12% of its workforce, in an effort to trim costs, the Financial Times' Richard Henderson reports. CEO Joe Sullivan said that the company, which recently added Nelson Peltz to its board, will lose some executives as well, including its heads of marketing and business development, Henderson reports, citing an internal memo. Reference Link

LM Legg Mason
$36.91

-0.25 (-0.67%)

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.
05/22/19
EVER
05/22/19
UPGRADE
Target $35
EVER
In Line
Legg Mason upgraded to In Line from Underperform at Evercore ISI
Evercore ISI analyst Glenn Schorr upgraded Legg Mason to In Line from Underperform and raised his price target for the shares to $35 from $32.
05/22/19
05/22/19
UPGRADE
Target $35

In Line
Legg Mason upgraded to In Line at Evercore ISI on progress toward stability
As previously reported, Evercore ISI analyst Glenn Schorr upgraded Legg Mason to In Line from Underperform and raised his price target on the shares to $35 from $32. The analyst argues that with Legg Mason having made "a bunch of progress" toward accomplishing the mission of becoming a more stable company and now with the presence of an activist that should help them extract some more expense synergies, it does not feel like an underperform to him anymore.
05/22/19
05/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Flir Systems (FLIR) upgraded to Outperform from In-Line at Imperial Capital with analyst Jeff Kessler saying after attending recent conferences, he believes prospects for Flir's safe cities and other civilian projects will improve starting in 2020. 2. Legg Mason (LM) upgraded to In Line from Underperform at Evercore ISI with analyst Glenn Schorr saying that with Legg Mason having made "a bunch of progress" toward accomplishing the mission of becoming a more stable company and now with the presence of an activist that should help them extract some more expense synergies, it does not feel like an underperform to him anymore. 3. Ericsson (ERIC) upgraded to Buy from Neutral at BofA/Merrill with analyst Tal Liani citing its 5G leadership and potential for longer-term share gains as well as the U.S. pressures on Huawei, which he thinks may add to Ericsson share gains. 4. Redfin (RDFN) upgraded to Neutral from Underperform at DA Davidson with analyst Tom White saying his proprietary data suggest that the company's listing share trends are not only improving but "establishing new highs." 5. AES Corp. (AES) upgraded to Buy from Hold at Argus with analyst Gary Hovis saying the company is now better positioned to generate "more consistent" earnings and dividend growth while trading at a "reasonable" valuation. 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

IDYA

Ideaya Biosciences

$10.70

-0.1 (-0.93%)

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PB

Prosperity Bancshares

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0.45 (0.67%)

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LTXB

LegacyTexas Financial

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0.32 (0.84%)

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AL

Air Lease

$38.85

-0.745 (-1.88%)

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$0.00

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Air Lease announces lease agreements with Air Caraibes, FrenchBee »

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GBNXF

Gibson Energy

$0.00

(0.00%)

06:36
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Gibson Energy rating change  »

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AL

Air Lease

$38.85

-0.745 (-1.88%)

, BA

Boeing

$347.19

-1.54 (-0.44%)

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Air Lease announces lease placement of new Boeing 787-9 with LOT Polish Airlines »

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  • 17

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AAPL

Apple

$192.84

-1.93 (-0.99%)

06:34
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06:34
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BABA

Alibaba

$158.10

-2.155 (-1.34%)

06:34
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Alibaba proposes one-to-eight stock split ahead of HK listing, Reuters reports »

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AL

Air Lease

$38.85

-0.745 (-1.88%)

, EADSY

Airbus

$0.00

(0.00%)

06:33
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Hot Stocks
Air Lease announces lease placement of ten Airbus A330-900neo with Sichuan Air »

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-0.745 (-1.88%)

EADSY

Airbus

$0.00

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  • 17

    Jun

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PDD

Pinduoduo

$20.52

0.05 (0.24%)

06:32
06/17/19
06/17
06:32
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06:32
Initiation
Pinduoduo initiated  »

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ARES

Ares Management

$27.03

0.28 (1.05%)

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Ares Management to sell NVA to JAB investors, terms not disclosed »

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  • 06

    Aug

AAPL

Apple

$192.84

-1.93 (-0.99%)

, FB

Facebook

$181.35

3.88 (2.19%)

06:30
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Periodicals
Apple CEO Cook calls out Facebook, YouTube in speech, Business Insider reports »

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AAPL

Apple

$192.84

-1.93 (-0.99%)

FB

Facebook

$181.35

3.88 (2.19%)

GOOG

Alphabet

$1,085.56

-3.52 (-0.32%)

GOOGL

Alphabet Class A

$1,086.36

-4.65 (-0.43%)

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  • 19

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    Oct

BCYC

Bicycle Therapeutics

$13.00

0.61 (4.92%)

06:27
06/17/19
06/17
06:27
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06:27
Initiation
Bicycle Therapeutics initiated  »

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RTLR

Rattler Midstream

$19.21

-0.195 (-1.01%)

06:27
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GOOG

Alphabet

$1,085.56

-3.52 (-0.32%)

, GOOGL

Alphabet Class A

$1,086.36

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GOOG

Alphabet

$1,085.56

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$1,086.36

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  • 19

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AL

Air Lease

$38.85

-0.745 (-1.88%)

, BA

Boeing

$347.19

-1.54 (-0.44%)

06:26
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Hot Stocks
Air Lease announces lease placement of new Boeing 787-10 aircraft with KLM »

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Air Lease

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-0.745 (-1.88%)

BA

Boeing

$347.19

-1.54 (-0.44%)

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  • 17

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DBVT

DBV Technologies

$8.05

-0.33 (-3.94%)

, AIMT

Aimmune

$19.99

-0.23 (-1.14%)

06:25
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Initiation
DBV Technologies, Aimmune initiated  »

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DBVT

DBV Technologies

$8.05

-0.33 (-3.94%)

AIMT

Aimmune

$19.99

-0.23 (-1.14%)

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  • 13

    Sep

BA

Boeing

$347.19

-1.54 (-0.44%)

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Boeing looks to cut scope, duration of some tests for 777X, Reuters reports »

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  • 17

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GOOG

Alphabet

$1,085.56

-3.52 (-0.32%)

, GOOGL

Alphabet Class A

$1,086.36

-4.65 (-0.43%)

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Google accused of lifting, republishing Genius Media content, WSJ reports »

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GOOG

Alphabet

$1,085.56

-3.52 (-0.32%)

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Alphabet Class A

$1,086.36

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  • 19

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BTI

British American Tobacco

$36.30

-0.65 (-1.76%)

06:22
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Downgrade
British American Tobacco rating change  »

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BA

Boeing

$347.19

-1.54 (-0.44%)

06:22
06/17/19
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Periodicals
Boeing CEO admits error in handling 737 Max cockpit warning light, NYT says »

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  • 17

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SSYS

Stratasys

$22.50

-0.28 (-1.23%)

06:22
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GE

General Electric

$10.24

-0.08 (-0.78%)

, BA

Boeing

$347.19

-1.54 (-0.44%)

06:21
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06/17
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Periodicals
GE Aviation redesigning part for GE9X jet engine, Reuters reports »

GE Aviation (GE) CEO…

GE

General Electric

$10.24

-0.08 (-0.78%)

BA

Boeing

$347.19

-1.54 (-0.44%)

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  • 17

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RTLR

Rattler Midstream

$19.21

-0.195 (-1.01%)

06:20
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Initiation
Rattler Midstream initiated  »

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VNE

Veoneer

$16.58

0.515 (3.21%)

06:20
06/17/19
06/17
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06:20
Hot Stocks
Veoneer acquires Nissin Kogyo's interests in U.S. VNBS operations »

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ENDP

Endo

$4.04

-0.43 (-9.62%)

06:18
06/17/19
06/17
06:18
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06:18
Downgrade
Endo rating change  »

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