In a report released today, Michael Cyprys from Morgan Stanley maintained a Sell rating on Franklin Resources (BEN – Research Report), with a price target of $18.00.
Michael Cyprys has given his Sell rating due to a combination of factors that include Franklin Resources’ current market performance and the relative attractiveness of other investment opportunities. Despite recent positive developments such as new office integration and cost-cutting measures, Cyprys remains cautious. The company has shown some potential for growth, particularly in areas like private markets and ETFs, but these have yet to fully materialize into significant gains.
Moreover, Franklin Resources’ stock has already outperformed during the recent market downturn, which suggests limited upside potential compared to its peers. While management is optimistic about achieving future growth and margin targets, Cyprys believes that there are more compelling investment opportunities available elsewhere, leading to his Sell recommendation.
In another report released on March 6, Evercore ISI also maintained a Sell rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BEN in relation to earlier this year.