Jefferies Lifts Estimates, Price Target on Legg Mason (LM) Follow Europe Trip
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Price: $49.99 --0%
Rating Summary:
1 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies boosted its price target on Buy-rated Legg Mason (NYSE: LM) from $31 to $33 following spending days with management on its trip through Europe.
The firm comments, "In general, business trends continue to improve on a modest basis. This is being driven by strengthening investment performance, which is in turn driving improved flow trends. Given this backdrop, combined with favorable markets we expect LM to report F4Q12 EPS at the upper end of its $0.42-$0.52 range."
FY12 EPS goes up from $1.44 to $1.48, FY13 goes up from $2.13 to $2.20.
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 $28.63 yesterday.
The firm comments, "In general, business trends continue to improve on a modest basis. This is being driven by strengthening investment performance, which is in turn driving improved flow trends. Given this backdrop, combined with favorable markets we expect LM to report F4Q12 EPS at the upper end of its $0.42-$0.52 range."
FY12 EPS goes up from $1.44 to $1.48, FY13 goes up from $2.13 to $2.20.
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 $28.63 yesterday.
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