Jefferies Remains a Hold on Franklin Resources

By Austin Angelo

In a report issued on July 11, Daniel Fannon from Jefferies reiterated a Hold rating on Franklin Resources (NYSE: BEN), with a price target of $33. The company’s shares closed yesterday at $32.33, close to its 52-week low of $31.28.

According to TipRanks.com, Fannon is a top 100 analyst with an average return of 16.0% and a 77.2% success rate. Fannon covers the Financial sector, focusing on stocks such as WisdomTree Investments, Federated Investors, and E*Trade Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for Franklin Resources with a $32.50 average price target, implying a 0.5% upside from current levels. In a report issued on June 29, Credit Suisse also maintained a Hold rating on the stock with a $32 price target.

.

See today’s analyst top recommended stocks >>

Based on Franklin Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $428 million. In comparison, last year the company earned revenue of $1.68 billion and had a net profit of $407 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Franklin Resources, Inc. is a holding company, which engages in the provision of financial and investment management services. It offers fund administration, sales, distribution, marketing, shareholder servicing, trustee, custody, and fiduciary services.