Deutsche Bank Upgrades Franklin Resources (BEN) to Buy

Deutsche Bank upgraded Franklin Resources (NYSE: BEN) from Hold to Buy with a price target of $46.00.

Analyst Brian Bedel said, "We regard BEN as having among the most solid brands and reliable operating models in the industry, with highest margins on a net revenue basis. And although we see BEN having slower organic growth vs. peers in the near-to-intermediate term, we think this is already factored into BEN's valuation. We also see BEN as being best levered in our coverage to any rebound in emerging markets stocks, and we see a strong secular case for growth in demand for fixed income products, for which BEN is well positioned. BEN's global distribution platform & product breadth are also extremely strong, and its intermediary relationships in US are solid, & are strengthening abroad. Given this outlook and current valuation, our rating is Buy."

For an analyst ratings summary and ratings history on Franklin Resources click here. For more ratings news on Franklin Resources click here.

Shares of Franklin Resources closed at $40.07 yesterday.

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