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BEN

Franklin Resources

$29.49

1.03 (3.62%)

06:35
09/12/19
09/12
06:35
09/12/19
06:35

JPMorgan upgrades Franklin Resources to Neutral after underperformance

JPMorgan analyst Kenneth Worthington upgraded Franklin Resources to Neutral from Underweight with an unchanged $32 price target. The analyst believes the traditional asset managers have "grown particularly inexpensive." Valuations have contracted from ~18 times prior to the financial crisis to ~11 times today, Worthington tells investors in a research note. He feels investors have now priced in many risks. While Franklin has underperformed peers on weaker fund performance, capital deployment has potential to stabilize the stock, says Worthington.

BEN Franklin Resources
$29.49

1.03 (3.62%)

04/15/19
SBSH
04/15/19
UPGRADE
Target $35
SBSH
Neutral
Citi upgrades Franklin Resources, Artisan to Neutral from Sell
Citi analyst William Katz upgraded both Franklin Resources (BEN) and Artisan Partners (APAM) to Neutral from Sell. The analyst raised his price target to $35 from $28 for the former and to $25 from $20 for the latter. Ahead of the Q1 earnings season, however, the analyst favors the Alternatives. His top picks are Och-Ziff Capital (OZM), Brookfield (BAM) and Blackstone (BX). Katz, though, is "tactically less negative" on the Traditional asset managers.
04/29/19
KBWI
04/29/19
DOWNGRADE
Target $33
KBWI
Underperform
Franklin Resources downgraded to Underperform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee downgraded Franklin Resources to Underperform from Market Perform and lowered his price target for the shares to $33 from $34. The company's outflows are unlikely to abate despite some recent improvement, Lee tells investors in a research note.
07/09/19
MSCO
07/09/19
NO CHANGE
MSCO
Morgan Stanley sees C-corp conversion announcement coming from Carlyle
Morgan Stanley analyst Michael Cyprys said he recommends owning Carlyle Group (CG) shares into the quarter, as he believes the company will announce plans to convert to a C-corporation along with its upcoming report, "albeit with a delayed effective date" to allow time for the complex underlying tax impact analysis. He thinks a conversion could bring greater clarity and visibility into targets, which could increase long only interest in the stock, Cyprys tells investors. In his broader preview of the earnings season for the Asset Manager group, the analyst noted that he lowered his Q2 EPS estimates by about 4% on average, cutting his estimates for Traditionals by 0.5%, for Alts by 11.5% and for Market Structure companies by 1.6%.
09/12/19
JPMS
09/12/19
UPGRADE
Target $32
JPMS
Neutral
Franklin Resources upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Kenneth Worthington upgraded Franklin Resources to Neutral from Underweight with a $32 price target.

TODAY'S FREE FLY STORIES

KNX

Knight-Swift

$36.05

-0.065 (-0.18%)

09:20
10/15/19
10/15
09:20
10/15/19
09:20
Earnings
Breaking Earnings news story on Knight-Swift »

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  • 13

    Nov

RETA

Reata Pharmaceuticals

$100.37

4.57 (4.77%)

09:20
10/15/19
10/15
09:20
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09:20
Recommendations
Reata Pharmaceuticals analyst commentary  »

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ROKU

Roku

$119.05

-2.55 (-2.10%)

, AAPL

Apple

$235.87

-0.34 (-0.14%)

09:20
10/15/19
10/15
09:20
10/15/19
09:20
Hot Stocks
Apple TV app, Apple TV+ coming to Roku platform »

Roku (ROKU) announced the…

ROKU

Roku

$119.05

-2.55 (-2.10%)

AAPL

Apple

$235.87

-0.34 (-0.14%)

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ABEO

Abeona Therapeutics

$2.18

-0.05 (-2.24%)

09:19
10/15/19
10/15
09:19
10/15/19
09:19
Hot Stocks
Abeona announces publication of long-term data from Phase 1/2a trial of EB-101 »

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TTEK

Tetra Tech

$84.87

-0.735 (-0.86%)

09:18
10/15/19
10/15
09:18
10/15/19
09:18
Hot Stocks
Tetra Tech awarded $85M DFID contract for LINKS program in Nigeria »

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
10/15/19
10/15
09:18
10/15/19
09:18
Options
Overnight activity included 213 trades in SPX and 79 trades in VIX »

213 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

VIX

Volatility Index S&P 500 Options

$0.00

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G

Genpact

$38.15

-0.27 (-0.70%)

09:17
10/15/19
10/15
09:17
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09:17
Hot Stocks
Genpact announces definitive agreement to acquire Rightpoint »

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  • 07

    Nov

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ADBE

Adobe

$277.79

-0.29 (-0.10%)

09:17
10/15/19
10/15
09:17
10/15/19
09:17
Initiation
Adobe initiated  »

Adobe initiated with a…

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  • 23

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  • 04

    Nov

CMTL

Comtech

$30.87

-0.27 (-0.87%)

09:16
10/15/19
10/15
09:16
10/15/19
09:16
Hot Stocks
Comtech awarded maximum $98.6M Army contract for SATCOM terminals »

Comtech announced, that…

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09:15
10/15/19
10/15
09:15
10/15/19
09:15
General news
U.S. equities are firmer »

U.S. equities are firmer,…

SFIX

Stitch Fix

$21.21

-0.62 (-2.84%)

09:14
10/15/19
10/15
09:14
10/15/19
09:14
Initiation
Stitch Fix initiated  »

Stitch Fix started with…

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  • 22

    Oct

SNAP

Snap

$13.76

-0.39 (-2.76%)

, TWTR

Twitter

$39.77

-0.59 (-1.46%)

09:14
10/15/19
10/15
09:14
10/15/19
09:14
Upgrade
Snap, Twitter rating change  »

Snap upgraded to Buy from…

SNAP

Snap

$13.76

-0.39 (-2.76%)

TWTR

Twitter

$39.77

-0.59 (-1.46%)

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  • 22

    Oct

  • 24

    Oct

LVGO

Livongo Health

$18.44

0.74 (4.18%)

09:13
10/15/19
10/15
09:13
10/15/19
09:13
Hot Stocks
Livongo Health announced partnership with VSP Vision Care »

Livongo Health announced…

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  • 06

    Nov

BAESY

BAE Systems

$0.00

(0.00%)

09:12
10/15/19
10/15
09:12
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09:12
Hot Stocks
BAE Systems awarded $437M Army task order to provide open source support »

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  • 26

    Oct

GNBT

Generex

$0.00

(0.00%)

09:12
10/15/19
10/15
09:12
10/15/19
09:12
Hot Stocks
Generex announces merger for public trading of NuGenerex Immuno-Oncology »

Generex Biotechnology…

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  • 15

    Oct

  • 25

    Oct

UNH

UnitedHealth

$220.32

-1.69 (-0.76%)

09:11
10/15/19
10/15
09:11
10/15/19
09:11
Earnings
UnitedHealth sees FY20 adj. EPS up near low-end of 13%-16% range »

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  • 15

    Oct

CVNA

Carvana

$74.34

2.06 (2.85%)

09:11
10/15/19
10/15
09:11
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09:11
Recommendations
Carvana analyst commentary  »

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  • 06

    Nov

PD

PagerDuty

$26.45

0.27 (1.03%)

09:11
10/15/19
10/15
09:11
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09:11
Initiation
PagerDuty initiated  »

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ALSK

Alaska Communications

$1.65

-0.015 (-0.90%)

09:10
10/15/19
10/15
09:10
10/15/19
09:10
Hot Stocks
Alaska Communications appoints William Bishop as CEO »

TeAlaska Communications…

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09:10
10/15/19
10/15
09:10
10/15/19
09:10
General news
U.S. repo rate opened at 2.04% »

U.S. repo rate opened at…

MRCY

Mercury Systems

$75.11

-0.61 (-0.81%)

09:09
10/15/19
10/15
09:09
10/15/19
09:09
Hot Stocks
Mercury Systems announces $15M capital investment in microelectronics business »

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  • 23

    Oct

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USAT

USA Technologies

$0.00

(0.00%)

09:08
10/15/19
10/15
09:08
10/15/19
09:08
Initiation
USA Technologies initiated  »

William Blair resumes USA…

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RDFN

Redfin

$16.21

-0.225 (-1.37%)

09:07
10/15/19
10/15
09:07
10/15/19
09:07
Recommendations
Redfin analyst commentary  »

Redfin listings share…

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  • 19

    Nov

SEEL

Seelos Therapeutics

$0.88

0.0036 (0.41%)

09:06
10/15/19
10/15
09:06
10/15/19
09:06
Hot Stocks
Seelos Therapeutics names Scott Applebaum lead strategic regulatory consultant »

Seelos Therapeutics…

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ERIC

Ericsson

$8.35

-0.085 (-1.01%)

09:05
10/15/19
10/15
09:05
10/15/19
09:05
Hot Stocks
Ericsson and Xtreme Enterprises announce partnership »

Ericsson and Xtreme…

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  • 17

    Oct

  • 17

    Oct

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