Posts for Ticker ‘LMVTX’

Legg Mason and the Coming Redemptions & Misses (LM, LMVTX)

Legg Mason Inc. (NYSE: LM) is having a rough morning to say the least.  The investment manager’s shares are being hit after Credit Suisse took an already cautious Neutral rating down to an even lower Underperform rating on the stock.  The $42.00 target stands, which is under current share prices by about 4%.  Credit Suisse believes that the firm is going to be unable to meet earnings expectations for multiple quarters and believes this firm is going to be riddled with redemptions and client defections to other managers as end of year reviews are coming up. 

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Posted on: September 4, 2008 – 9:11 am in Analyst Calls, Financial Stocks, ,