Goldman Sachs Maintains Sell Rating for Franklin Resources: Here's What You Need To Know

Goldman Sachs has decided to maintain its Sell rating of Franklin Resources BEN and raise its price target from $21.50 to $24.50.

Shares of Franklin Resources are trading down 1.39% over the last 24 hours, at $28.84 per share.

A move to $24.50 would account for a 15.03% decline from the current share price.

About Franklin Resources

Franklin Resources provides investment services for individual and institutional investors. At the end of June, Franklin had $1.432 trillion in managed assets, composed primarily of equity (32%), fixed-income (35%), multi-asset/balanced (10%) funds, alternatives (18%) and money market funds (5%). Distribution tends to be weighted equally between retail investors (49% of AUM) and institutional accounts (49%), with high-net-worth clients accounting for the remainder. Franklin is one of the more global of the U.S.-based asset managers we cover, with more than a third of its assets under management invested in global/international strategies and 28% of managed assets sourced from clients domiciled outside the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.