Franklin Resources upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Benjamin Budish upgraded Franklin Resources (BEN) to Equal Weight from Underweight with a price target of $31, up from $26. The company’s fiscal Q2 report was solid and represented a continuation of improving flows, raised guidance, and solid cost controls, the analyst tells investors in a research note. Barclays cites improving fundamentals for the upgrade of Franklin Resources.