Barclays Capital Gets Bullish on Asset Managers (LM, BEN, WDR)

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Analysts at Barclays Capital on Thursday boosted their ratings and price targets on several asset management plays.

The firm upgraded Legg Mason ( LM ) to "Overweight" from "Equal Weight," citing expected benefits from improving equity market performance and better equity flow trends. Barclays also raised its price target for LM to from $29 all the way up to $52, which implies a massive 48% upside to the stock's Wednesday closing price of $35.18.

Meanwhile, the analyst raised its price target for Franklin Resources ( BEN ) from $131 to $147, implying a 24% upside to the stock's Wednesday closing price of $118.92. Barclays cited a higher AUM forecast and higher equity market returns for the move, while maintaining its "Overweight" rating.

Finally, Barclays upgraded Waddell & Reed Financial ( WDR ) to "Overweight" from "Equal weight," citing lower taxes and strengthening equity markets. The firm also raised its price target for WDR from $30 to $41, implying a 24% upside to the stock's Wednesday closing price of $33.13.

The Bottom Line
Shares of Legg Mason ( LM ) have a .68% dividend yield, based on last night's closing stock price of $35.18.
Shares of Franklin Resources ( BEN ) have a .74% dividend yield, based on last night's closing stock price of $118.92.
Shares of Waddell & Reed ( WDR ) have a 2.41% dividend yield, based on last night's closing stock price of $33.13.

None of the dividend stocks mentioned in this article currently have a high enough Dividend.com DARS™ Rating to qualify for our "Recommended" list.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: BEN , LM , WDR

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