Franklin Resources (BEN) Gets a Sell Rating from Evercore ISI
Evercore ISI analyst Glenn Schorr maintained a Sell rating on Franklin Resources (BEN) yesterday and set a price target of $25.00. The company’s shares closed last Monday at $27.97.
According to TipRanks.com, Schorr is a 4-star analyst with an average return of 16.1% and a 72.2% success rate. Schorr covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Apollo Global Management, and Cohen & Steers.
Currently, the analyst consensus on Franklin Resources is a Moderate Sell with an average price target of $26.25, a -6.0% downside from current levels. In a report issued on October 28, Barclays also maintained a Sell rating on the stock with a $23.00 price target.
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Based on Franklin Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $306 million. In comparison, last year the company had a net profit of $502 million.
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Franklin Resources, Inc. is a holding company, which engages in the provision of investment management and related services. It offers its products and services under the brands of Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2, LibertyShares, and Edinburgh Partners.