Asset Management & Custody Banks

A report from Jefferies reiterates its Buy rating and $31 price target on Legg Mason (NYSE: LM). The report states, “LM reported EPS of $0.39, $0.02 above our estimate and $0.01 above consensus.Revenues were slightly better than expected, offset by reduced compensation expense. With several moving...

A report from Citi reiterates its Buy rating and $34 price target on Legg Mason (NYSE: LM). The report states, “Another mixed trend quarter – F2Q12 (C3Q) “Adjusted” EPS = $0.68 vs. our $0.77; 50% of miss = higher non-operating losses; rest combo of lower fee rate and lower performance fees. Huge...

Lindsay Corporation (NYSE: LNN) -7.17% on downbeat Q4 earnings. Barclays (NYSE: BCS) -7.08% after Fitch downgrades two other British banks. Career Education (NASDAQ: CECO) -7.05% on the recent concerns regarding the for-profit education sector. Legg Mason (NYSE: LM) -6.85% after Goldman lowered...

To reflect AuM being down 8%, Goldman Sachs has lowered the price targets on Franklin Resources (NYSE: BEN), from $115 to $109, and on Legg Mason (NYSE: LM), from $25 to $24. In the report, Goldman Sachs writes, "Several asset managers reported Sept AUM with average mom declines of 8%, reflecting...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $612 billion as of September 30, 2011.

Sterne Agee is out with a research report on Legg Mason Inc. (NYSE: LM) and is downgrading shares to Underperform with a $32 price target. In a note to cliens, Sterne Agee writes, "We continue to believe LM will struggle to post meaningful growth in AUM or revenues absent a sizable equity market...

Sterne Agee has downgraded Legg Mason (NYSE: LM) from Neutral to Underperform and has lowered the price target from $36 to $32.

This is your Benzinga news summary and traders' outlook for Friday, October 7, 2011, covering headlines from overnight and Friday's pre-market session. Today in domestic pre-market trading, U.S equity futures are trading lower. At last check, Dow futures are lower by about 12 points or 0.1% and...

Bank of America has downgraded Legg Mason (NYSE: LM) from Neutral to Underperform and has lowered the price objective from $38 to $29.

According to Jefferies, Legg Mason (NYSE: LM) target price is lowered to $31. Jefferies said that while overall performance trends have held up on a relative basis, they are not immune to this extreme mkt volatility. “Our revised $31 PT (was $34) is based upon an approx. 9x multiple of our CY12...

Jefferies & Company has lowered the price target on Legg Mason (NYSE: LM) from $34 to $31 and maintains its Buy rating.

Below are the top regional-midwest banks stocks on the NASDAQ in terms of revenue. The trailing-twelve-month revenue at Fifth Third Bancorp (NASDAQ: FITB) is $5.19 billion. FITB's operating margin for the same period is 27.51%. The trailing-twelve-month revenue at Northern Trust Corporation (...

DryShips Inc (NASDAQ: DRYS) fell 10.09% to $6.50 in the pre-market trading. DRYS reported downbeat quarterly profit. Jos. A. Bank Clothiers Inc (NASDAQ: JOSB) dipped 3.74% to $45.50 in the pre-market session. JOSB reported a 25% rise in its fiscal second-quarter net income. BlackRock Inc (NYSE:...

Citigroup downgraded American Eagle Outfitters Inc (NYSE: AEO) from “buy” to “hold.” AEO's shares closed at $10.89 yesterday. American Eagle's trailing-twelve-month profit margin is 5.69%. LDK Solar Co Inc (NYSE: LDK) was downgraded by Needham from "buy" to "hold." LDK's shares closed at $6.18...

Keefe, Bruyette & Woods has downgraded Calamos Asset Management (NASDAQ: CLMS) from Outperform to Market Perform and has established a $14 price target.