Franklin Resources stock downgraded to Underperform at BofA (NYSE:BEN)
BalkansCat Franklin Resources (NYSE:BEN) stock has slipped 0.7% after BofA Securities analyst Craig Siegenthaler downgraded the asset manager to Underperform from Neutral due to expected sizeable net redemptions while excess capital is mostly depleted. Investment performance of its active funds are underperforming, net flows have deteriorated for two straight quarter and is expected to be … Read more