Franklin Resources Inc. (NYSE: BEN) Price Target Boosted at Deutsche Bank AG

Franklin Resources Inc. (NYSE: BEN) had its price target increased by equities researchers at Deutsche Bank AG from $34.00 to $35.00.Deutsche Bank AG currently has a rating of Hold on the shares. A number of other analysts have spoken on the stock recently, and Franklin Resources Inc. has earned a consensus one-year price target of $34.25, lower than the opening price of $36.48, a difference of 9.63 percent. Franklin Resources Inc. stock has a 52-week high of $42.23.

U.S. equities saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.

The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.

The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.

Stocks were no alone in declines on Friday.

Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.

Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.

Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Shares of Franklin Resources Inc. (NYSE: BEN) opened at $36.48 yesterday and traded in a range between, $35.58 and $36.57, and last traded at $35.58, which represents a change of $ -1.10 over the previous closing price.

Franklin Resources Inc. (NYSE: BEN) now has a market cap of 20.50B

The stocks average daily volume is 3,015,800 shares out of a total float 345,638,000 of and some 3,129,017 shares traded hands yesterday, 57 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are researching.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Franklin Resources Inc. (NYSE: BEN) now has a 50-day MA is $35.93 and 200-day MA is $36.27, and it has traded in a 52-week range between $30.56 – 42.23 and today’s last price is -0.16 percent off the 52 week high of $42.23.

Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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