KBW analyst Robert Lee reiterated a Buy rating on Legg Mason (LM) on November 6 and set a price target of $33. The company’s shares closed yesterday at $29.12, close to its 52-week low of $26.10.
According to TipRanks.com, Lee is a 5-star analyst with an average return of 7.6% and a 66.3% success rate. Lee covers the Financial sector, focusing on stocks such as Victory Capital Holdings Inc, SEI Investments Company, and Cohen & Steers Inc.
Currently, the analyst consensus on Legg Mason is a Moderate Buy with an average price target of $32.83, implying a 12.7% upside from current levels. In a report issued on October 25, Deutsche Bank also maintained a Buy rating on the stock with a $33 price target.
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Based on Legg Mason’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $70.23 million. In comparison, last year the company had a net profit of $72.98 million.
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Legg Mason, Inc. is a global asset management company. It provides investment management and related services to institutional and individual clients, company sponsored mutual funds and other pooled investment vehicles through financial intermediaries.
