If history is any guide, there may be trouble ahead for shares of Franklin Resources (NYSE:BEN). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
Keefe, Bruyette & Woods analyst Robert Lee upgrades Franklin Resources (NYSE:BEN) from Market Perform to Outperform and raises the price target from $35 to $45.
Franklin Resources (NYSE:BEN) has outperformed the market over the past 90 days by 9.59%, generating a 13.56% return for its investors over the time period. Now, given this information, it may seem like price appreciation alone is the best way to have made money on this stock, that's not actually the case.
Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton, today announced that it has entered into a definitive agreement to acquire Lexington Partners L.P.