Citi Increases PT For Franklin Resources To $163 (BEN)

Citi increased its price target for Franklin Resources (NYSE: BEN) from $160 to $163 in a research report published today.

In the report, Citi also upgraded its earnings per share estimate for 2011 and 2012. This year, Citi's earnings per share estimate was increased by $0.06 to $9.59. In 2012, the new earnings per share estimate is expected to be $10.93, up $0.09 from the previous estimate.

Citi also maintained its Buy rating on Franklin's shares.

In yesterday's trading, Franklin gained 1.16% to finish the day at $127.33.