Janus Henderson upgraded to Neutral from Underweight at JPMorgan

JPMorgan upgraded Janus Henderson to Neutral from Underweight with a price target of $31, up from $28. The company reported Q4 earnings well ahead of expectations primarily due to performance fees, below the line gains and a lower tax rate, the analyst tells investors in a research note. The firm sees Janus Henderson’s success in exchange traded funds and performance as “tangible positives” which together with a commitment to share repurchases can allow the stock to perform better.