Franklin Resources Price Target Increased to $61.50 by Analysts at JPMorgan Chase & Co. (BEN)
Investment analysts at JPMorgan Chase & Co. upped their price target on shares of Franklin Resources (NYSE:BEN) from $55.50 to $61.50 in a note issued to investors on Tuesday, Stock Ratings Network.com reports. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 6.03% from the stock’s previous close.
A number of other firms have also recently commented on BEN. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $62.00 to $66.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Franklin Resources in a research note to investors on Tuesday, December 17th. They now have a $57.00 price target on the stock. Finally, analysts at Evercore Partners upgraded shares of Franklin Resources from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, November 22nd. They now have a $64.00 price target on the stock, up previously from $51.00. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Franklin Resources presently has a consensus rating of “Buy” and an average target price of $111.37.
Shares of Franklin Resources (NYSE:BEN) traded up 2.15% during mid-day trading on Tuesday, hitting $58.00. 2,258,718 shares of the company’s stock traded hands. Franklin Resources has a 52 week low of $43.8867 and a 52 week high of $57.98. The stock’s 50-day moving average is $55.85 and its 200-day moving average is $51.39. The company has a market cap of $36.588 billion and a price-to-earnings ratio of 16.85.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.86 by $0.06. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company posted $2.31 earnings per share. Franklin Resources’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that Franklin Resources will post $3.80 EPS for the current fiscal year.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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