Investment manager Franklin Resources, Inc. ( BEN
The firm also set a $116 price target on BEN, which represents a potential 24% upside to the stock's Wednesday closing price of $93.65.
A Susquehanna analyst commented, "BEN is a well diversified asset management company with industry-leading products in the equity, fixed income, and international segments. In addition, the firm is the best capitalized company in the sector, providing stability for investors."
Franklin Resources shares were mostly flat in premarket trading Thursday.
The Bottom Line
We have avoided shares of BEN since our early June 2008 coverage began, when the stock was trading at $99.63. Shares of BEN have a dividend yield of .94%, based on last night's closing stock price of $93.65. The stock has technical support in the $88-$90 price area. If the shares can firm up, we see overhead resistance around the $98-$100 price levels. We would remain on the sidelines for now.
Franklin Resources, Inc. ( BEN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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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