JP Morgan Upgrades Franklin Resources (BEN) and T.Rowe (TROW), Downgrades FII, EV
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More News related to FII
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JP Morgan upgrades Franklin Resources (NYSE: BEN) from Underweight to Overweight and raised their price target from $75 to $94, citing improved performance and sales and benefits from a weaker dollar.
JP Morgan also upgraded T.Rowe Price (Nasdaq: TROW) (tgt to $47.50 from $43.50).
The firm downgraded Federated Investors, Inc. (NYSE: FII) (tgt lowered to $24 to $26.50) and Eaton Vance Corp. (NYSE: EV) (tgt lowered to $30 to $32.50) from Neutral to Underweight.
The firm said they prefers equity managers over fixed income managers.
The firm also maintained Neutral ratings on Janus Capital Group Inc. (NYSE: JNS) (tgt to $15.50 from $12) and Pzena Investment Management, Inc (NYSE: PZN) (tgt to $8.50 from $8) and an Overweight rating on Invesco Ltd. (NYSE: IVZ) (tgt to $28 from $22).
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