UBS AG Lowers Franklin Resources Price Target to $59.00 (BEN)
UBS AG lowered their price target on shares of Franklin Resources (NYSE:BEN) from $62.00 to $59.00 in a research note issued on Tuesday, Analyst Ratings Net reports. UBS AG’s price target would suggest a potential upside of 14.63% from the stock’s previous close.
Franklin Resources (NYSE:BEN) traded up 0.58% during mid-day trading on Tuesday, hitting $51.77. 1,046,823 shares of the company’s stock traded hands. Franklin Resources has a 52 week low of $44.2167 and a 52 week high of $58.87. The stock has a 50-day moving average of $52.87 and a 200-day moving average of $53.94. The company has a market cap of $32.659 billion and a price-to-earnings ratio of 14.63.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.89 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.89. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that Franklin Resources will post $3.75 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Franklin Resources in a research note on Tuesday. They now have a $57.00 price target on the stock, down previously from $58.00. Separately, analysts at Sandler O’Neill cut their price target on shares of Franklin Resources to $61.00 in a research note on Tuesday. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of Franklin Resources from $61.00 to $60.00 in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $104.87.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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