Franklin Resources

Franklin Resources (NYSE:BEN) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/08/2024 3.56% Wells Fargo $24 → $30 Upgrades Underweight → Equal-Weight 01/04/2024 10.46% TD Cowen → $32 Initiates Coverage On → Market Perform 11/02/2023 -24.06% Morgan Stanley $23 → $22 Maintains Underweight 10/11/2023 -17.16% Deutsche Bank $26 → $24 Maintains Hold 10/06/2023 -20.61% Morgan Stanley $24 → $23 Maintains Underweight 08/08/2023 -17.16% Morgan Stanley $23 → $24 Maintains Underweight 08/01/2023 -15.43% Goldman Sachs $21.5 → $24.5 Maintains Sell 07/31/2023 -15.43% Goldman Sachs $21.5 → $24.5 Maintains Sell 07/31/2023 -6.8% BMO Capital $24 → $27 Maintains Market Perform 07/25/2023 -20.61% Morgan Stanley $23 → $23 Reiterates Underweight → Underweight 07/13/2023 -10.25% Wells Fargo $25.5 → $26 Maintains Underweight 07/12/2023 -20.61% Morgan Stanley $23 → $23 Reiterates Underweight → Underweight 07/10/2023 -17.16% BMO Capital $20 → $24 Assumes Market Perform → Market Perform […]

Wells Fargo analyst Finian O’Shea upgrades Franklin Resources (NYSE:BEN) from Underweight to Equal-Weight and raises the price target from $24 to $30.

Franklin Resources (NYSE:BEN) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 12.03% TD Cowen → $32 Initiates Coverage On → Market Perform 11/02/2023 -22.98% Morgan Stanley $23 → $22 Maintains Underweight 10/11/2023 -15.98% Deutsche Bank $26 → $24 Maintains Hold 10/06/2023 -19.48% Morgan Stanley $24 → $23 Maintains Underweight 08/08/2023 -15.98% Morgan Stanley $23 → $24 Maintains Underweight 08/01/2023 -14.23% Goldman Sachs $21.5 → $24.5 Maintains Sell 07/31/2023 -14.23% Goldman Sachs $21.5 → $24.5 Maintains Sell 07/31/2023 -5.48% BMO Capital $24 → $27 Maintains Market Perform 07/25/2023 -19.48% Morgan Stanley $23 → $23 Reiterates Underweight → Underweight 07/13/2023 -8.98% Wells Fargo $25.5 → $26 Maintains Underweight 07/12/2023 -19.48% Morgan Stanley $23 → $23 Reiterates Underweight → Underweight 07/10/2023 -15.98% BMO Capital $20 → $24 Assumes Market Perform → Market Perform 06/01/2023 -10.73% Wells Fargo $26 → $25.5 Maintains Underweight 05/02/2023 -17.73%

TD Cowen analyst Bill Kirk initiates coverage on Franklin Resources (NYSE:BEN) with a Market Perform rating and announces Price Target of $32.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target price by $8 to $24, valuing BEN shares at 9.1x our FY 2025 (Sep.) EPS estimate of $2.65 (cut today by $0.20) and at 10x our FY 2024 EPS estimate of $2.40 (cut by $0.25), vs. the shares’ three-year average forward multiple of 9.4x and a peer average of 14.1x. BEN posted Sep-Q EPS of $0.84 vs. $0.63, topping our $0.72 EPS estimate and the $0.59 consensus view. FY 2023 EPS of $2.60 (vs. $3.63) also topped our $2.43 EPS estimate and the $2.35 consensus EPS view. FY 2023 operating revenues fell 5%, in line with our forecast, though margins contracted more than we expected to 14% from 21.4% (adjusted 29.9% vs. 35.9%). AUM of $1.37 trillion rose by 6%, and long-term

Deutsche Bank analyst Brian Bedell maintains Franklin Resources (NYSE:BEN) with a Hold and lowers the price target from $26 to $24.

Franklin Resources (NYSE:BEN) reported fiscal Q3 adjusted earnings  of $0.63 per diluted share, down from $0.82 a year earlier. Analysts polled by Capital IQ expected $0.60. Operating revenue for the quarter ended June 30 was $1.97 billion, compared with $2.03 billion a year earlier. Three analysts surveyed by Capital IQ expected $1.91 billion.