Franklin Resources weakness overdone, says Wells Fargo After Franklin Resources announced that its long-term AUM had dropped 250 basis points in January, Wells Fargo notes that the company's U.S. equity assets were down less than broad indices, while its fixed income assets advanced in the month. The firm keeps an Outperform rating on the stock.
Franklin Resources downgraded at Bernstein As noted earlier, Bernstein downgraded Franklin Resources to Market Perform from Outperform. As reasons for the downgrade, the firm cited slowing fundamental momentum and lack of visibility and catalysts. Target to $60 from $65.