Goldman Sachs Upgrades BEN and JNS, Downgrades WDR
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Goldman Sachs made some rating changes in the Asset Manager group. The firm said fundamentals calls for a more positive bias on asset managers, but valuation keeps them at Neutral.
The firm upgraded Franklin Resources Inc. (NYSE: BEN) from Neutral to Buy, while downgrading Waddell & Reed Financial Inc. (NYSE: WDR) from Buy to Neutral. Janus Capital Group Inc. (NYSE: JNS) was upgraded from Sell to Neutral.
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