Legg Mason Price Target Increased to $38.00 by Analysts at Morgan Stanley (LM)
Equities research analysts at Morgan Stanley increased their target price on shares of Legg Mason (NYSE:LM) from $36.00 to $38.00 in a research note issued to investors on Thursday, American Banking and Market News reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 13.20% from the company’s current price.
Legg Mason (NYSE:LM) traded down 1.15% during mid-day trading on Thursday, hitting $33.57. The stock had a trading volume of 1,376,999 shares. Legg Mason has a 52-week low of $23.88 and a 52-week high of $37.04. The stock’s 50-day moving average is $33.61 and its 200-day moving average is $33.01. The company’s market cap is $4.142 billion.
Legg Mason (NYSE:LM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.22. The company had revenue of $670.40 million for the quarter, compared to the consensus estimate of $657.20 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Legg Mason will post $2.14 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Legg Mason (NYSE:LM) from $31.00 to $37.00 in a research note to investors on Thursday, September 12th. They now have a “sector perform” rating on the stock. Separately, analysts at BMO Capital Markets reiterated an “underperform” rating on shares of Legg Mason (NYSE:LM) in a research note to investors on Thursday, September 12th. They now have a $35.00 price target on the stock, up previously from $34.00. Finally, analysts at TheStreet downgraded shares of Legg Mason (NYSE:LM) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Legg Mason has a consensus rating of “Hold” and an average price target of $33.73.
Legg Mason, Inc (NYSE:LM) is a global asset management company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.