Jefferies Maintains Hold on Franklin Resources (BEN)

Jefferies is out with its report today on Franklin Resources

, maintaining Hold. In a note to clients, Jefferies writes, "The Global Bond Fund is BEN's primary source of inflows, accounting for over half of all inflows in 2010. BEN's lack of sales diversity within its fund family has increased its risk profile. Last year BEN launched a marketing campaign to promote the rotation into equities. In the first two months of 2011 the benefits have begun to show as BEN's equity funds have posted improving flow trends." Jefferies has a $125 PT on BEN. Shares of BEN closed Monday at $124, down 0.48% from Friday's close.