Goldman Sachs Downgrades Janus Capital (JNS) to Sell
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Price: $8.48 --0%
Rating Summary:
1 Buy, 3 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 3 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade JNS Now!
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, with a 52 week range of $5.76-$9.70.
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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, with a 52 week range of $5.76-$9.70.
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