Goldman Sachs Downgrades Janus Capital (JNS) to Sell

December 3, 2012 7:48 AM EST
Get Alerts JNS Hot Sheet
Price: $13.55 +0.52%

Rating Summary:
    1 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade JNS Now!
Join SI Premium – FREE
Goldman Sachs downgraded Janus Capital (NYSE: JNS) from Neutral to Sell with a price target of $7.00 (from $8.00).

The firm expects JNS shares to underperform given: (1) Soft relative equity fund performance and tougher INTECH performance comparisons suggest more outflows; (2) pressure on revenues and op. margin from negative performance fees; and
(3) we see multiple compression as investors refocus on soft fundamentals as technical tailwind from Dai-ichi’s purchase of a 20% stake rolls off.

Goldman lowered 2012/2013/2014 EPS estimates to $0.56/$0.53/$0.60 from $0.56/$0.60/$0.71 on modest flow/margin expectations, 9-15% below consensus.

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 $8.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst PT Change, Downgrades, Hot Downgrades

Related Entities

Goldman Sachs, Janus Capital

Add Your Comment