Jefferies Downgrades Janus Capital (JNS) to Hold
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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."
Shares of Janus Capital closed at $15.70 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesJefferies & Co, Janus Capital, Earnings, Definitive Agreement
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