Upgrade Alert for Franklin Resources (BEN)
Franklin Resources (NYSE:BEN) was upgraded from Underperform to Neutral at BofA/Merrill today. The stock closed yesterday at $38.49 on volume of 13.7 million shares, above average daily volume of 3.1 million.
Over the past year, Franklin Resources has traded in a range of $30.56 to $52.65 and closed yesterday at $38.49, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.
Franklin Resources, Inc. provides investment advisory services to mutual fund, retirement, institutional/separate accounts and high net worth investors. The Company manages various asset classes including domestic, international/global and emerging markets equity, domestic, international and municipal fixed income, money funds, alternative investments, and hedge funds.
Franklin Resources (NYSE:BEN) has potential upside of 9.0% based on a current price of $38.49 and analysts' consensus price target of $41.97. The stock should hit resistance at its 200-day moving average (MA) of $38.57, as well as support at its 50-day MA of $38.32.
SmarTrend is tracking the current trend status for Franklin Resources and will alert subscribers who have BEN in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades franklin resources