Jefferies Downgrades Federated Investors (FII) to Hold; Growth Rate Set to fall
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies downgraded Federated Investors (NYSE: FII) from Buy to Hold with a price target of $27.00 (from $32.00), saying growth is about to hit a wall.
Analyst commented, "We are downgrading FII from Buy to Hold and lowering our PT from $32 to $27. Investment perf. at the flagship SVD fund, the firm's primary growth engine, has sharply lagged peers post the election. The fund is now facing the possibility of net outflows. While there are positives elsewhere, net/net we believe the FII's industry leading long-term organic growth rate is set to fall a step function lower. We have lowered our 2017 EPS est. from $2.13 to $2.08."
Shares of Federated Investors closed at $27.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- Jefferies Cuts Price Target on PG&E Corp. (PCG) to $65 Following Rate Case Decision
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Downgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!