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Fly News Breaks for February 25, 2020
Feb 25, 2020 | 05:08 EDT
Goldman Sachs analyst Alexander Blostein upgraded Franklin Resources (BEN) to Neutral from Sell with a price target of $28, up from $25. Although the analyst expects Franklin will continue to face "significant" outflows amid challenging investment performance in several key investment products, he believes the risk/reward is now more balanced with the shares down 26% over the last 12 months. Further, management's increased willingness to deploy excess capital strategically with the acquisition of Legg Mason (LM) drives the price target increase, Blostein tells investors in a research note.
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