Credit Suisse Sticks to Its Hold Rating for Legg Mason (LM)

Credit Suisse analyst Craig Siegenthaler reiterated a Hold rating on Legg Mason (LMResearch Report) yesterday and set a price target of $42. The company’s shares closed last Monday at $39.99, close to its 52-week high of $40.20.

According to TipRanks.com, Siegenthaler is a 4-star analyst with an average return of 5.7% and a 58.9% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as BrightSphere Investment Group plc, E*Trade Financial, and LPL Financial.

Currently, the analyst consensus on Legg Mason is a Hold with an average price target of $40.14.

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Based on Legg Mason’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $43.84 million. In comparison, last year the company had a net profit of $63.77 million.

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Legg Mason, Inc. provides securities brokerage, trading and investment services. The firm’s segment includes Global Asset Management. The segment: Global Asset Management provides investment advisory services to institutional and individual clients and to company-sponsored investment funds.