TD Cowen Maintains Buy Rating on Franklin Resources (BEN), Keeps $27 PT

On June 5, William Katz from TD Cowen maintained a Buy rating on Franklin Resources, Inc. (NYSE:BEN) and kept the price target unchanged at $27. The reiterated Buy rating comes after the company released its preliminary month-end Assets Under Management report.

Franklin Resources, Inc. (NYSE:BEN) reported that its preliminary month-end assets under management (AUM) totaled $1.57 trillion, as of May 31. The AUM increased month-over-month from $1.53 trillion as of April 30. Management noted this increase as a reflection of positive market conditions. The company reported net inflows of $1 billion, including the $3 billion outflows at Western Asset Management, a subsidiary.

TD Cowen Maintained a Buy Rating on Franklin Resources (BEN), After the AUM Report

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Katz noted Franklin Resources, Inc. (NYSE:BEN) exceeded long-term inflows expectations. Katz remains optimistic regarding the company’s future performance expecting stronger core flows and a reduction in WAMCO-related run-off.

Franklin Resources, Inc. (NYSE:BEN) is a global investment management company serving over 150 countries. The company specializes in equity, fixed-income, and multi-asset solutions for retail, institutional, and high-net-worth investors through its various brands.

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