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Goldman Sachs Downgrades Janus Capital (JNS) to Sell

December 3, 2012 7:48 AM EST Send to a Friend
Get Alerts JNS Hot Sheet
Price: $11.60 +1.58%

Rating Summary:
    1 Buy, 4 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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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.

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

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Goldman Sachs, Janus Capital

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