Morgan Stanley Maintains Underweight on Franklin Resources, Lowers Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Michael Cyprys has maintained an Underweight rating on Franklin Resources (NYSE:BEN) and lowered the price target from $21 to $19.
October 18, 2024 | 1:07 pm
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Morgan Stanley has maintained an Underweight rating on Franklin Resources and reduced the price target from $21 to $19, indicating a bearish outlook.
The Underweight rating and reduced price target suggest that Morgan Stanley expects Franklin Resources to underperform relative to the market. This is likely to negatively impact investor sentiment and could lead to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100