Legg Mason (LM) : 8 analysts are covering Legg Mason (LM) and their average rating on the stock is 1.63, which is read as a Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Legg Mason (LM) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 5, which recommends a Strong Sell affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Legg Mason (LM) stock is expected to deviate a maximum of $4.58 from the average target price of $38.17 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $45 and the most muted being $32.
Legg Mason (NYSE:LM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.96 and $27.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.60, notching a gain of 0.88% for the day. The total traded volume was 2,570,179 . The stock had closed at $28.35 on the previous day.
Also, Major Brokerage house, Citigroup maintains its ratings on Legg Mason (NYSE:LM). In the latest research report, Citigroup raises the target price from $43 per share to $46 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on April 18, 2016. The company shares have dropped -42.49% from its 1 Year high price. On Aug 13, 2015, the shares registered one year high at $52.57 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $31.90 and the 200 Day Moving Average price is recorded at $32.30.
Legg Mason, Inc. is a holding company. Through its subsidiaries, the Company provides investment management and related services to institutional and individual clients, company-sponsored investment funds and retail separately managed account programs. The Company offers its products and services directly and through various financial intermediaries. Its investment advisory services include discretionary and non-discretionary management of separate investment accounts in numerous investment styles for institutional and individual investors. Its investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income, equity and alternative funds managed in a wide variety of investment styles. The Company also offers other domestic and offshore funds to both retail and institutional investors and funds-of-hedge funds. The Companys United States mutual funds consist of two groups of mutual and closed-end funds.