Goldman Sachs Raises Target, Estimates for Legg Mason (LM)

By Staff,

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Asset manager Legg Mason, Inc. ( LM ) saw its price target and earnings estimates boosted on Friday by analysts at Goldman Sachs.

The firm boosted its price target for LM shares, which had closed at $34.26 on Thursday, to $34. Goldman also lifted its earnings estimates for the company, citing improving investment performance, while maintaining its "Neutral" rating.

Legg Mason shares rose 29 cents, or +0.9%, in premarket trading Friday.

The Bottom Line
We had removed LM from our "recommended" list last Sept.15, when the shares traded at $36.30. The company has a .47% dividend yield, based on last night's closing stock price of $34.26. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $38 price level. We would remain on the sidelines for now.

Legg Mason, Inc. ( LM ) is not recommended at this time, holding a DARS™ Rating of 3.1 out of 5 stars.

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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: LM

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