Credit: Shutterstock photoInvestment manager Franklin Resources, Inc. ( BEN ) on Tuesday caught some bearish commentary from analysts at BMO Capital Markets.
The firm maintained its "Market Perform" rating on BEN buy lowered its price target to $126. That new target still suggests a 21% upside to the stock's Monday closing price of $105.41, however.
BMO Capital also cut its earnings estimates for the company, citing weaker recent asset flows.
Franklin Resources shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of Franklin Resources ( BEN ) have a 1.02%, based on last night's closing stock price of $105.41. The stock has technical support in the $100-$102 price area. If the shares can firm up, we see overhead resistance around the $110-$111 price levels.
Franklin Resources, Inc. ( BEN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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.
