BMO Capital analyst James Fotheringham raised the firm’s price target on Franklin Resources to $23 from $22 but keeps a Market Perform rating on the shares. The analyst is positive on the company’s alternatives platform expansion but also expects organic growth to remain subdued, with weaker sales traction across equities and fixed income. The firm gives a stronger preference to de-rated alternative asset managers like Apollo Global (APO), KKR (KKR), and Carlyle Group (CG).
Published first on TheFly
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- Franklin Resources reports Q1 EPS 51c, consensus 54c
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- Wells Fargo starts Franklin Resources at Underweight on ‘tough market’
- Franklin Resources initiated with an Underweight at Wells Fargo
- Franklin Resources raises quarterly dividend by 3.4% to 30c per share
