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Macquarie Downgrades Asset Management Stocks LM, AMG & PZN

October 13, 2011 10:40 AM EDT Send to a Friend
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Price: $50.78 -0.8%

Rating Summary:
    5 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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This morning, Macquarie downgraded three Asset Management companies including:

Legg Mason (NYSE: LM) from Outperform to Neutral and cuts price target from $33 to $26. Shares are currently down 6.1%.

Affiliated Managers Group Inc. (NYSE: AMG) and Pzena Investment (NYSE: PZN) were lowered from Neutral to Underperform. Shares are down 5.6% and 4.3%, respectively.

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