The Fly

Franklin Resources price target raised to $23 from $22 at BMO Capital

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).

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