Deutsche Bank Upgrades Legg Mason (LM) to Buy; Continue to Like Risk/Reward in the Asset Managers

June 29, 2011 7:07 AM EDT
Get Alerts LM Hot Sheet
Price: $32.25 --0%

Rating Summary:
    8 Buy, 9 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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.

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