With the U.S./global economies recovering, and increased confidence in equity market gains, moving forward, the landscape for money managers is improving, and that's a major reason I'm reiterating my buy rating for Franklin Resources (BEN), first recommended on July 20, 2009 at a price of $73.88. If you bought BEN in July, you're up about 50%. Franklin's double-digit asset growth should continue in FY2010, aided by an improved asset mix, better fund performance across asset classes, and increased flows from money market funds. BEN's relatively strong balance sheet, and prudent cost cuts rounds-out the positive story. The First Call FY2010/FY2011 EPS estimates for BEN are $6.08 to $7.03.
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