Franklin Resources price target raised to $19 from $14 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Franklin Resources (BEN) to $19 from $14 and keeps an Underweight rating on the shares. Morgan Stanley sees a better backdrop for asset managers than feared, given early Q2 market drawdown that recovered better and faster than expected, and while flows are still softer quarter over quarter, the firm sees scope for recovery in the remainder of 2025 and into 2026, the analyst tells investors. The firm remains cautious longer- term on the group given persistent structural challenges around fees, flows, margins that are likely to linger.