Jefferies Downgrades Federated Investors (FII) to Hold; Growth Rate Set to fall
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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.
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