Franklin Resources fundamentals appear to be improving, says Wells Fargo After meeting with Franklin Resources' senior management, Wells Fargo says that the company's fixed income platform appears to be stabilizing, while its equity business is showing strength. The firm says that the company appears open to making its share buyback plan more aggressive. It keeps an Outperform rating on the shares.
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.