Jefferies Downgrades Janus Capital (JNS) to Hold

October 4, 2016 6:36 AM EDT
Get Alerts JNS Hot Sheet
Price: $13.82 -2.06%

Rating Summary:
    1 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Jefferies downgraded Janus Capital (NYSE: JNS) from Buy to Hold with a price target of $16.00.

Analyst Daniel Fannon commented, "We are downgrading JNS from Buy to Hold and maintaining our PT of $16. The d/g is predominantly based on valuation following Monday's announced merger of equals with HGG. We view shares of the pro forma earnings profile as fairly valued at approx. 14.5x 2017 EPS, which represents a premium to its peers. While we view the proposed transaction positively from a strategic sense, growth for the combined entity will remain difficult given current industry trends."

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 $15.70 yesterday.

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