Franklin Resources price target raised to $20 from $19 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Franklin Resources (BEN) to $20 from $19 and keeps an Underweight rating on the shares as part of a Q2 preview for the asset managers. The firm updated asset manager models to reflect full quarterly flow and asset under management metrics. Assets rose due to market appreciation in Q2, but though flow profiles remained mixed across the sector, the analyst tells investors in a research note.