Morgan Stanley Sees Global Bond Flows Turn Positive For Franklin Resources

In a report published Thursday, Morgan Stanley analyst Betsy L. Graseck reiterated an Equal-Weight rating and $63.00 price target on Franklin Resources (NYSE: BEN).

In the report, Morgan Stanley noted, “We estimate +$1.3B long-term net inflows for BEN in June, bringing our full quarter estimate to roughly flat flows. Inflows driven by Global Bond flows as investors dip toes back into EM credit. Raising CY2015e EPS by 1c (to $4.25), while our June qtr & CY2014e EPS estimates remain unchanged.”

Franklin Resources closed on Wednesday at $57.54.