Franklin Resources (BEN) : The highest level Franklin Resources (BEN) is projected to reach is $38 for the short term and the lowest estimate is at $28. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $33.88 and the possibility the share price can swing is $3.6.
Franklin Resources (BEN), A increase of 3,539,625 shares or 21.6% was observed in the short interest of Franklin Resources The interest on June 30,2016 came in at 19,895,173 shares and as per the average daily trading of 4,112,813 shares, the days to cover are 5. The increased interest is 5.6% of the floated shares. The data of June 15,2016 put the interest at 16,355,548 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Deutsche Bank maintains its rating on Franklin Resources (NYSE:BEN). The global brokerage major lowers the current price target from $37 per share to $35 per share. Analysts at the Deutsche Bank have a current rating of Hold on the shares. The rating by the firm was issued on June 16, 2016.
Franklin Resources (NYSE:BEN): stock turned positive on Thursday. Though the stock opened at $35.24, the bulls momentum made the stock top out at $35.35 level for the day. The stock recorded a low of $34.46 and closed the trading day at $34.64, in the green by 0.49%. The total traded volume for the day was 3,371,292. The stock had closed at $34.47 in the previous days trading.
Franklin Resources, Inc. (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally, which include the United States- and non- United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration, shareholder services, transfer agency, underwriting, distribution, custodial, trustee and other fiduciary services. Its sponsored investment products include a range of equity, hybrid, fixed-income and cash management funds and accounts, including alternative investment products.