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UPDATE: BMO Capital Raises PT on Legg Mason Following New York Investor Lunch

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Legg Mason Lays Out Strategy For Surviving In A Troubled Asset Management Industry
Earnings Scheduled For April 29, 2016

In a report published Thursday, BMO Capital Markets analyst David J. Chiaverini reiterated an Underperform rating on Legg Mason (NYSE: LM), and raised the price target from $34.00 to $35.00.

In the report, BMO Capital Markets noted, “We attended Legg Mason's investor lunch in New York yesterday and came away encouraged that the company has a plan to address its challenges; however, the key will be executing that plan in the face of a market environment that we expect to change in ways that may present headwinds for the company. Specifically, we believe Legg is not as well positioned as peers for rising interest rates and an eventual rotation to equities from bonds.”

Legg Mason closed on Wednesday at $34.39.

Latest Ratings for LM

DateFirmActionFromTo
Apr 2016CitigroupMaintainsBuy
Apr 2016CitigroupMaintainsBuy
Apr 2016BarclaysMaintainsOverweight

View More Analyst Ratings for LM
View the Latest Analyst Ratings

Posted-In: BMO Capital Markets David J. ChiaveriniAnalyst Color Price Target Analyst Ratings

 

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