Macquarie Downgrades Asset Management Stocks LM, AMG & PZN

October 13, 2011 10:40 AM EDT
Get Alerts LM Hot Sheet
Price: $34.13 +1.13%

Rating Summary:
    9 Buy, 9 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 17 | New: 12
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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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