In a report released today, Michael Cyprys from Morgan Stanley maintained a Sell rating on Franklin Resources (BEN), with a price target of $19.00. The company’s shares closed last Wednesday at $18.64.
According to TipRanks.com, Cyprys is a 4-star analyst with an average return of 5.5% and a 57.9% success rate. Cyprys covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Virtus Investment Partners, and Apollo Global Management.
Currently, the analyst consensus on Franklin Resources is a Hold with an average price target of $22.70, representing a 17.9% upside. In a report issued on October 19, Barclays also maintained a Sell rating on the stock with a $20.00 price target.
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Based on Franklin Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.19 billion and net profit of $290 million. In comparison, last year the company earned revenue of $1.48 billion and had a net profit of $246 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. The company was founded by Rupert H. Johnson, Sr. in 1947 and is headquartered in San Mateo, CA.
