Franklin Resources Given New $61.00 Price Target at Morgan Stanley (BEN)
Equities researchers at Morgan Stanley reduced their target price on shares of Franklin Resources (NYSE:BEN) from $63.00 to $61.00 in a research report issued on Thursday. Morgan Stanley’s price objective points to a potential upside of 13.68% from the company’s current price.
A number of other analysts have also recently weighed in on BEN. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $63.00 to $64.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. downgraded shares of Franklin Resources from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $59.00 price target on the stock, down previously from $61.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Franklin Resources from $62.00 to $65.00 in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Franklin Resources presently has a consensus rating of “Hold” and a consensus target price of $60.54.
Shares of Franklin Resources (NYSE:BEN) traded down 0.90% on Thursday, hitting $53.66. The stock had a trading volume of 2,279,571 shares. Franklin Resources has a 52-week low of $45.06 and a 52-week high of $58.87. The stock’s 50-day moving average is $57.1 and its 200-day moving average is $54.57. The company has a market cap of $33.553 billion and a P/E ratio of 15.17.
Franklin Resources (NYSE:BEN) last released its earnings data on Wednesday, July 30th. The company reported $0.92 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.03. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company posted $0.86 earnings per share. Franklin Resources’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that Franklin Resources will post $3.74 EPS for the current fiscal year.
Franklin Resources, Inc (NYSE:BEN) is a holding company.
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