Jefferies Lifts PT on Legg Mason (LM) on Signs of Optimism

May 29, 2013 6:57 AM EDT Send to a Friend
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Price: $57.25 --0%

Rating Summary:
    6 Buy, 10 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies boosted its price target on Legg Mason (NYSE: LM) from $30 to $36 Wednesday after meeting with management, but stopped short of upgrading the stock and maintained a Hold rating.

"Flow trends appear poised for short-term improvement given positive momentum at ClearBridge, Western and Brandywine," analyst Daniel Fannon notes. "Additional margin expansion appears limited in the near term; however, the cash flow profile remains solid and will continue to support an active buyback program."

For an analyst ratings summary and ratings history on Legg Mason click here. For more ratings news on Legg Mason click here.

Shares of Legg Mason closed at $35.91 yesterday.

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