Goldman Sachs Maintains FII's Sell Rating

Goldman Sachs said today that it remains Sell-rated on Federated Investors, Inc. FII “as we believe FII's growth will be muted relative to other asset managers given continued fee waivers, little cost control measures, and a mixed outlook for long-dated flows amid choppy equity performance.” Goldman Sachs adds that while it is encouraged by FII's distribution efforts and opportunities to roll-up the MMF space, it expects the stock to lag in 2011. Federated Investors closed Tuesday at $26.39.