Pali Research Initiates Coverage on Franklin Resources (BEN) with a Buy; Value Play On A Value Manager
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Pali Research initiates coverage on Franklin Resources (NYSE: BEN) with a Buy. Price target $87.
Pali analyst says, "We are initiating with a BUY for three reasons: (1) We believe that BEN will benefit from improving flow trends in international markets; (2) BEN's pristine balance sheet leaves them well positioned to take advantage of the acquisition environment (we believe this is heightened as markets stabilize); and (3) a relatively low compensation cost structure coupled with recent cost cuts should yield
significant margin expansion. Our fiscal Q309 (June qtr) EPS estimate is $0.80; our fiscal 2009 and 2010 EPS estimates are $2.67 and $4.36 respectively.
To see more analyst ratings on BEN Click Here.
Franklin Resources, Inc., doing business as Franklin Templeton Investments, operates as an asset management company.
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