Franklin Resources (BEN), a recent addition to our Virtual Put Selling Portfolio, got upgraded today.
Its new price target is $168. BEN closed the week at $142.80, up $2.87 per share today.
Franklin Resources Boosted By Bernanke
Recent Fed comments should prove supportive for the asset manager's stock, says Susquehanna Financial Group.
Franklin Resources (NYSE: BEN) By Susquehanna Financial Group ($139.93, July 12, 2013)
We are upgrading Franklin Resources to Positive from Neutral and raising our price target to $168 from $145 on the premise that recent comments from the Federal Reserve will provide support to international and emerging market stocks and bonds.
See details on our put writing history here.