Deutsche Bank Upgrades Legg Mason (LM) to Buy; Continue to Like Risk/Reward in the Asset Managers
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Price: $35.50 -1.74%
Rating Summary:
4 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
4 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade LM Now!
Deutsche Bank upgraded Legg Mason (NYSE: LM) from Hold to Buy.
Deutsche analyst said, "We are upgrading LM given the recent pull back in the shares (~15%), multiple defensive earning levers, an attractive valuation, and areas of improving core trends. While the stock has pulled back post the weak quarter and the challenging markets/industry trends, our 2012 estimate remains unchanged (versus a downward move for the sector) given the earnings levers ahead, we find it attractive, and see ~20% upside in the shares."
For more ratings news on Legg Mason click here and for the rating history of Legg Mason click here.
Shares of Legg Mason closed at $31.94 yesterday, with a 52 week range of $24.94-$37.72.
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Deutsche analyst said, "We are upgrading LM given the recent pull back in the shares (~15%), multiple defensive earning levers, an attractive valuation, and areas of improving core trends. While the stock has pulled back post the weak quarter and the challenging markets/industry trends, our 2012 estimate remains unchanged (versus a downward move for the sector) given the earnings levers ahead, we find it attractive, and see ~20% upside in the shares."
For more ratings news on Legg Mason click here and for the rating history of Legg Mason click here.
Shares of Legg Mason closed at $31.94 yesterday, with a 52 week range of $24.94-$37.72.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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