Deutsche Bank Downgrades Legg Mason (LM) to Hold; Catalysts Mostly Done

Deutsche Bank downgraded Legg Mason (NYSE: LM) from Buy to Hold, price target lowered from $32 to $27.

Deutsche analyst says, "We are downgrading LM as the streamlining
initiative / margin improvement and capital deployment / buyback catalysts are mostly done, and the firm faces some structural flow headwinds, particularly institutional fixed income allocations going out of core and active and into passive and credit. Given these factors, we now see limited upside."

For an analyst ratings summary and ratings history on Legg Mason click here. For more ratings news on Legg Mason click here.

Shares of Legg Mason closed at $24.39 yesterday.

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