UPDATE: Jefferies Cuts PT to $8 on Janus Capital Group; Margins Pressured

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Jefferies lowers its price target from $9.50 to $8 on Hold-rated Janus Capital Pressured (NYSE: JNS) as margins should remain pressured for the near term. Jefferies says, "The full impact of negative performance fees in addition to increased comp expense drove declining operating margins and a $0.02 adjusted miss to estimates. While longer term performance challenges remain, short term performance has shown modest improvement as of late and flow trends within actively managed products (ex. Intech) modestly improved q/q."JNS closed at $7.74 on Monday.

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