Market Overview

Citigroup Reiterates Neutral Rating, $25 PT on Legg Mason

Related LM
Legg Mason End-August Assets Under Management $711B
Western Asset Middle Market Income Fund Inc. Raises $327M For its Initial Public Offering
Stifel to Buy Legg Mason's Investment Advisory Unit (Fox Business)

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
Oct 2014Bank of AmericaUpgradesUnderperformNeutral
Sep 2014CitigroupMaintainsBuy
Aug 2014Keefe Bruyette & WoodsMaintainsOutperform

View More Analyst Ratings for LM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (LM)

Around the Web, We're Loving...

Get Benzinga's Newsletters