Jefferies Cuts Price Target on Janus Capital (JNS) to $14 After Meeting with Management

November 10, 2016 8:29 AM EST
Get Alerts JNS Hot Sheet
Price: $13.15 -1.65%

Rating Summary:
    1 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
Trade JNS Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Jefferies maintained a Hold rating on Janus Capital (NYSE: JNS), and cut the price target to $14.00 (from $16.00), after meeting with both Janus and Henderson management. One of the clear take-aways from the meetings is that the cost of being a global investment management firm is rising. In addition, barriers to entry in new markets on an organic basis are also rising. Both mgmt teams highlighted the desire to grow outside of their core domestic markets.

Analyst Daniel Fannon commented, "Earlier this week we spent time with the CEOs of both Janus and Henderson discussing the merits of the proposed merger of equals. With limited product overlap and increasing regulatory and compliance pressures globally, combining these two firms makes strategic sense in an effort to be more relevant to global distributors and institutional clients."

For an analyst ratings summary and ratings history on Janus Capital click here. For more ratings news on Janus Capital click here.

Shares of Janus Capital closed at $13.23 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Jefferies & Co, Janus Capital, Definitive Agreement

Add Your Comment