Market Overview

UPDATE: Citigroup Downgrades Janus Capital Group to Sell on Structural and Valuation Issues

Related JNS
Janus Capital CIO On Working With Bill Gross
Bill Gross' New Fund Sees November Inflows At $770 Million
After Gross, Pimco Braces for Flood of Redemptions (Fox Business)

Citigroup downgraded Janus Capital Group (NYSE: JNS) from Neutral to Sell, price target lowered from $8.00 to $7.75.

Citigroup commented, "Three reasons: 1) we think investors are overly sanguine on JNS's flow recovery prospects, with 4Q reinforcing many challenges for the franchise; 2) despite headline beat, underlying operating leverage remains elusive (and still disappointing on a core basis) – a trend likely to persist into 2013-14, we believe, even as markets trend higher; and, 3) valuation mismatch, particularly given limited strategic flexibility and platform positioning."

Janus Capital Group closed at $9.65 on Thursday.

Latest Ratings for JNS

DateFirmActionFromTo
Dec 2014Keefe Bruyette & WoodsMaintainsMarket Perform
Oct 2014Keefe Bruyette & WoodsMaintainsMarket Perform
Oct 2014Credit SuisseMaintainsUnderperform

View More Analyst Ratings for JNS
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (JNS)

Around the Web, We're Loving...

Get Benzinga's Newsletters