UPDATE: Keefe Bruyette & Woods Raises PT on Franklin Resources

Keefe Bruyette & Woods has published a research report on Franklin Resources BEN raising the price target. In the report, Keefe Bruyette & Woods wrote, "BEN reported fiscal 3Q11 ROCK of [$2.26, $2.26, $2.16, $2.12]. The company reported an operating beat on higher revenues and better operating margin, with very strong flows of $21.7bn. Raise EPS estimates and price target. Maintain Outperform rating. See PDF for delta sheet." Keefe, Bruyette & Woods rated Franklin Resources an Outperform with a price target raised to $155.00. Franklin Resources closed Tuesday at $122.33.