In a report released today, Michael Cyprys from Morgan Stanley maintained a Sell rating on Legg Mason (NYSE: LM), with a price target of $32. The company’s shares closed yesterday at $31.07, close to its 52-week low of $29.54.
According to TipRanks.com, Cyprys is a 3-star analyst with an average return of 5.2% and a 70.2% success rate. Cyprys covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and E*Trade Financial.
Currently, the analyst consensus on Legg Mason is a Moderate Buy with an average price target of $37.63.
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Based on Legg Mason’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $63.77 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.
