Keefe, Bruyette & Woods Downgrades Legg Mason (LM) to Market Perform; Higher Expected Comp. Costs Weigh on the Stock
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Price: $49.99 --0%
Rating Summary:
1 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
Rating Summary:
1 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
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Keefe, Bruyette & Woods downgraded Legg Mason (NYSE: LM) from Outperform to Market Perform. PT lowered to $39.
KBW analyst says, "While we thought it was an in-line quarter with solid revenue and moderating outflows, expected sharp increase in compensation was disappointing and margin improvement now less compelling. Lower estimates and price target."
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 $35.13 yesterday.
KBW analyst says, "While we thought it was an in-line quarter with solid revenue and moderating outflows, expected sharp increase in compensation was disappointing and margin improvement now less compelling. Lower estimates and price target."
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 $35.13 yesterday.
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