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Citigroup Reiterates Neutral Rating, $25 PT on Legg Mason

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Jefferies Says Legg Mason Is Moving From 'Defense To Offense,' Upgrades To Buy
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In a report published Friday, Citigroup reiterated its Neutral rating and $25.00 price target on Legg Mason (NYSE: LM).

Citigroup noted, “At the margin, we view the news as mixed as we believe some accretion from the Fauchier Partners deal may be offset by changes to revenue share dynamics in which LM will help Permal invest to grow the business, particularly in the Asia Pac region. We maintain our current estimates and plan to review our model following deal terms announced during F3Q13 EPS.”

Legg Mason closed on Thursday at $25.08.

Latest Ratings for LM

DateFirmActionFromTo
Mar 2015Keefe Bruyette & WoodsMaintainsOutperform
Feb 2015BarclaysMaintainsEqual-weight
Feb 2015JefferiesUpgradesHoldBuy

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Posted-In: CitigroupAnalyst Color Reiteration Analyst Ratings

 

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