Franklin Resources Inc

BEN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$66.00	Plkwwpd	Snbvfrnww

Franklin Resources: Lowering Fair Value Estimate by 4% on Weaker Performance and Flows in September

Greggory Warren

Oct 11, 2023

We've lowered our fair value estimate for narrow-moat Franklin Resources to $28 per share from $29 to account for revised near-term expectations about assets under management, revenue, and profitability since our last update. We view the shares as slightly undervalued.

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