Deutsche Bank downgraded Morgan Stanley, BlackRock and TD Ameritrade Friday, but maintained its Buy ratings on Goldman Sachs and Invesco.
While it has a Buy rating on Goldman, Deutsche lowered its target price to $145.
TD Ameritrade was the big decliner among the above names today, down 41 cents, or 2%, to $20.06, but all were lower. Goldman is off 92 cents, or 0.75%, to $122.15, and Invesco fell 15 cents, or 0.57%, $26.22. BlackRock was down 51 cents or 0.25%, to $204.57. Morgan Stanley fell by two pennies, or 0.05%, to $19.50
Deutsche also raised its target prices on many banks, brokers, asset managers and exchanges in its coverage area, citing stronger markets, despite weaker exchange volumes and slightly higher retail activity. Deutsche maintains Hold ratings on all the stocks where it raised targets, with the exception of Invesco.
Herewith, Deutsche’s take:
|Company (Ticker)||Rating||Target Price *|
|TD Ameritrade (AMTD)||Buy to Hold||$18 to $20|
|Morgan Stanley (MS)||Buy to Hold||$28 to $22|
|BlackRock (BLK)||Buy to Hold||$210 to $210|
|Goldman Sachs (GS)||Buy||$160 to $145|
|Franklin Resources (BEN)||Hold||$120 to $130|
|Cohen & Steers (CNS)||Hold||$29 to $32|
|Federated Investors (FII)||Hold||$17 to $18|
|Invesco (IVZ)||Buy||$29 to $30|
|Janus Capital (JNS)||Hold||$8 to $9|
|Legg Mason (LM)||Hold||$28 to $29|
|T. Rowe Price (TROW)||Hold||$63 to $65|
|E*TRADE Financial (ETFC)||Hold||$9 to $10|
|CBOE HoldingsÂ (CBOE)||Hold||$26 to $27|
|CME Group (CME)||Hold||$275 to $280|
|IntercontinentalExchange (ICE)||Hold||$135 to $140|
|Charles Schwab (SCHW)||Hold||$13 to $14|
|* second number is new target price.|
|Source: Deutsche Bank|