UBS Sees Signs of Improvement for Franklin Resources (BEN), But Remains Sidelined

UBS maintains a 'Neutral' on Franklin Resources (NYSE: BEN) price target raised from $104 to $113.

UBS analyst says, "BEN reported a decent F1Q12, with EPS of $2.20 exactly in line with our estimate, but ahead of the Street’s $2.09. Lower outflows ($15.6bn vs. UBSe $18.2bn) represented the highlight of the quarter and likely drove the strong stock performance yesterday. More favorable capital markets so far this year and improvements in areas of weakness, such as the company’s Global Bond fund, suggest that major headwinds might be behind the company. That said, we will look for more evidence of sustainable improvements to get more constructive."

For an analyst ratings summary and ratings history on Franklin Resources click here. For more ratings news on Franklin Resources click here.

Shares of Franklin Resources closed at $111.97 yesterday.

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