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UPDATE: Citi Upgrades Legg Mason to Buy, Shares Move Lower

Related LM
Citi Sees Buying Opportunity In Legg Mason, Calls Out Better-Than-Average Flows & Shrinking Share Count Coupled With Strong Oct NAV Snapback
Check Out Legg Mason's Buried SEC Investigation

In a report issued Wednesday, Citi upgraded its rating of Legg Mason, Inc. (NYSE: LM) from Neutral to Buy with a target price of $56.

A team of analysts at Citi lead by William R. Katz sees Legg Mason as an “attractive play” with “robust capital return with deal optionality and inexpensive valuation.” He believes the company is benefiting from several different things, most notably including stabilizing to improving gross sales and easing in acute redemption pressures.

The news of this upgrade still hasn't done anything to drive up Legg Mason at this point in Wednesday's session as it is down 0.35% to $48.58 at last checked trade.

Latest Ratings for LM

Nov 2015Piper JaffrayMaintainsOverweight
Nov 2015SusquehannaUpgradesNeutralNeutral
Nov 2015BarclaysMaintainsOverweight

View More Analyst Ratings for LM
View the Latest Analyst Ratings

Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings


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