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Franklin Resources Started with a “Positive” Rating at Susquehanna (BEN)

Investment manager Franklin Resources, Inc. ( BEN

) saw its coverage initiated on Thursday with a "Positive" rating by analysts at Susquehanna.

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.

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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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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