UBS Maintains a 'Neutral' on Franklin Resources (BEN); Raising Numbers on Solid Asset Growth
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Price: $168.32 +1.43%
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BEN Now!
UBS maintains a 'Neutral' on Franklin Resources (NYSE: BEN) price target of $120.00 (from $117.00).
Analyst, Alex Kramm, said, "BEN reported August AUM of $731bn, up 1.7% m/m and up 2.0% y/y. Upside was driven primarily by strong equity market performance, with the S&P 500 up 2%. Implied flows accelerated significantly from a soft July, which we believe should bode well for the stock...Our FY13 EPS estimate moves to $9.39 from $9.11 (CY13 to $9.63 from $9.35), as higher asset levels carry through our earnings model."
For an analyst ratings summary and ratings history on Franklin Resources click here. For more ratings news on Franklin Resources click here.
Shares of Franklin Resources closed at $121.88 yesterday, with a 52 week range of $87.71-$127.83.
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Analyst, Alex Kramm, said, "BEN reported August AUM of $731bn, up 1.7% m/m and up 2.0% y/y. Upside was driven primarily by strong equity market performance, with the S&P 500 up 2%. Implied flows accelerated significantly from a soft July, which we believe should bode well for the stock...Our FY13 EPS estimate moves to $9.39 from $9.11 (CY13 to $9.63 from $9.35), as higher asset levels carry through our earnings model."
For an analyst ratings summary and ratings history on Franklin Resources click here. For more ratings news on Franklin Resources click here.
Shares of Franklin Resources closed at $121.88 yesterday, with a 52 week range of $87.71-$127.83.
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