UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Franklin Resources

In a report published Friday, Jefferies & Company reiterated its Hold rating on Franklin Resources BEN, and raised its price target from $117.00 to $128.00. Jefferies noted, “We believe BEN's inflow streak will continue with net long-term inflows of approx. $6.9B, an improvement from $4.9B last quarter. Of BEN's 6 asset segments, we believe only US equity funds will report outflows as the broad category remains under pressure across the industry. The remaining segments, including global fixed income should all report positive flows. On a relative basis, through the first two months of the quarter, BEN's US taxable fixed income segment has exhibited the greatest strength.” Franklin Resources closed on Thursday at $129.27.