Franklin Resources (BEN) PT Raised to $25 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the price target on Franklin Resources (NYSE: BEN) to $25.00 (from $24.00) while maintaining a Underperform rating.

The analyst comments "Thesis-wise, WAMCO-related outflows continue to wane and now obscure the health of the broader franchise far less than before. The rest of BEN has posted seven consecutive quarters of positive net flows, pointing to a more stable business. Catalysts from here include turning total firm-wide flows positive, lifting the operating margin from the current 23.7%, pushing the proportion of assets beating benchmarks further above 50%, and driving more consistent inflows in the equities segment."

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