Barclays lowered the firm’s price target on Franklin Resources (BEN) to $20 from $23 and keeps an Underweight rating on the shares as part of a Q3 preview for the asset managers. Assets under management estimates rose due to market appreciation in Q3, relative to Q2, though flow profiles were mostly negative, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BEN:
- Crypto Currents: AWS outage impacts centralized exchanges
- Franklin Resources reports preliminary AUM $1.66T at September 30
- Franklin Resources: Undervalued Growth Potential Amid Strong Fundraising Momentum
- Franklin Resources initiated with an Outperform at BMO Capital
- Franklin Resources price target raised to $22 from $19 at BofA