Morgan Stanley Estimates Strong February Outflow for Franklin Resources
In a report published Tuesday, Morgan Stanley analyst Matthew Kelley reiterated an Equal-Weight rating and $60.00 price target on Franklin Resources (NYSE: BEN).
In the report, Morgan Stanley noted, “We estimate ~$4B of net long-term outflows for BEN in February, and -$7B quarter-to-date. While fixed income outflows improved slightly m/m, we note that third-party data suggests outflows from Templeton Global Bond and Global Total Return SICAVs accelerated.”
Franklin Resources closed on Monday at $53.20.
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