Credit Suisse Lowers Franklin Resources Price Target to $62.00 (BEN)
Equities research analysts at Credit Suisse decreased their price target on shares of Franklin Resources (NYSE:BEN) from $64.00 to $62.00 in a research note issued to investors on Friday, American Banking & Market News reports. Credit Suisse’s target price would suggest a potential upside of 19.21% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Franklin Resources from $55.50 to $61.50 in a research note to investors on Tuesday, January 14th. Separately, 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, January 10th. They now have an “outperform” rating on the stock. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Franklin Resources currently has a consensus rating of “Buy” and a consensus target price of $108.90.
Franklin Resources (NYSE:BEN) traded down 1.46% on Friday, hitting $52.01. The stock had a trading volume of 4,677,062 shares. Franklin Resources has a 52 week low of $44.2167 and a 52 week high of $58.87. The stock’s 50-day moving average is $56.21 and its 200-day moving average is $52.16. The company has a market cap of $32.810 billion and a price-to-earnings ratio of 15.66.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. On average, analysts predict that Franklin Resources will post $3.82 earnings per share for the current fiscal year.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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