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Stock Market & Financial Investment News

News Breaks
January 11, 2013
08:49 EDTLMCiti sees 'many complexities' with possible Legg Mason buyout
Following reports that private equity approached Legg Mason about a potential buyout, Citigroup says such a deal would be "fraught with many complexities." Citi estimates that a break-up of Legg Mason could yield $28-$30 per share, and possibly $34 per share should bankers be willing to lever the platform to four times EBITDA. Citi views shares of Legg Mason as "fundamentally pricey" at current levels and keeps a Neutral rating on the name.
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August 1, 2014
08:13 EDTLMLegg Mason weakness creates buying opportunity, says Wells Fargo
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July 31, 2014
07:03 EDTLMLegg Mason reports Q1 adjusted EPS 91c, consensus 56c
Reports Q revenue $693.9M, consensus $704.36M. Assets Under Management were $704.3B, up slightly from $701.8B as of March 31 and up 9% from $644.5B as of June 30, 2013.
July 25, 2014
07:33 EDTLMLegg Mason acquisition positive, says Wells Fargo
After Legg Mason agreed to buy international equity manager Martin Currie, Wells Fargo thinks the deal will enable Legg Mason to gain a foothold in international equity, while enabling Currie to leverage Legg Mason's retail distribution channel. The firm does not expect the deal to affect Legg Mason's share buybacks. It keeps an Outperform rating on the shares.
July 24, 2014
08:32 EDTLMLegg Mason acquires Martin Currie
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