Janus Henderson price target lowered to $49 from $50 at Evercore ISI

Evercore ISI lowered the firm’s price target on Janus Henderson (JHG) to $49 from $50 and keeps an In Line rating on the shares after the company’s largest shareholder, Trian, and General Catalyst announced an agreement to take the asset manager private at an equity value of $7.4B, or $49 per share. While this “doesn’t seem like the highest possible multiple that Janus could have gotten” as the company has now had six consecutive quarters of organic growth, there’s “no guarantee things are going to be like that every quarter” and the firm understands the potential allure of being private to allow Janus to continue its turnaround outside the scrutiny of public markets, the analyst tells investors.