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Morgan Stanley Raises Franklin Resources (BEN) Target to $22, Keeps Underweight Rating

Franklin Resources, Inc. (NYSE:BEN) is included among the Dividend Champions, Contenders, and Challengers List: 15 Highest Yielding Stocks.

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On February 3, Morgan Stanley raised its price recommendation on Franklin Resources, Inc. to $22 from $21. It kept an Underweight rating on the stock and trimmed its calendar Q4 adjusted EPS estimate by 14%, pointing to higher operating costs. At the same time, the firm took a more optimistic view further out, lifting its 2026 adjusted EPS forecast by 6.3% and nudging its 2027 estimate up 0.7%, supported by expectations for stronger fee income and better non-operating investment returns.

On February 4, Franklin reported preliminary month-end assets under management of $1.71 trillion as of January 31, 2026, up from $1.68 trillion at the end of December. The increase reflected favorable market conditions along with about $1.5 billion in long-term net inflows. That total included roughly $1.5 billion of long-term net outflows at Western Asset Management. Excluding Western Asset, long-term net inflows were closer to $3 billion.

Western Asset’s preliminary AUM came in at $216 billion at the end of January, slightly down from $217 billion a month earlier. Market gains helped, but those were partly offset by the long-term outflows recorded during the month.

Franklin Resources, Inc. operates globally under the Franklin Templeton name, offering investment strategies across equities, fixed income, alternatives, and multi-asset solutions to clients in more than 150 countries.

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