Piper Jaffray Initiates Franklin Resources With Neutral

Analysts at Piper Jaffray initiated coverage on

with a Neutral rating. The target price for Franklin Resources is set to $59. Franklin Resources shares have dropped 8.81 percent over the past 52 weeks, while the S&P 500 index has surged 9.43 percent in the same period. Franklin Resources' shares closed at $50.80 yesterday.