Franklin Resources (BEN) Soars 2.81% on Goldman Sachs Upgrade

Franklin Resources (BEN) shares surged 2.81% intraday, marking its highest level since July 2024, with a 2.63% gain over the past two days.

The strategy of buying BEN shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -3.59%, significantly underperforming the market. This indicates that this strategy failed to capitalize on potential growth, likely due to the short holding period and the volatility of BEN's price.

Goldman Sachs recently upgraded Franklin Resources from Neutral to Buy, setting a price target of $29. This upgrade reflects a 25% potential upside and was driven by the company's growing alternatives platform. The positive outlook from Goldman Sachs has contributed to the recent surge in Franklin Resources' stock price.

Franklin Resources has been actively expanding its alternatives platform, which has been a key factor in attracting investor interest. The company's strategic initiatives in this area have been well-received by the market, further boosting its stock performance.

In addition to the upgrade, Franklin Resources has been focusing on enhancing its product offerings and improving its operational efficiency. These efforts have been instrumental in driving the company's growth and have been positively reflected in its stock price.

Overall, the recent upgrade by Goldman Sachs and the company's strategic initiatives in the alternatives platform have been the primary drivers behind the surge in Franklin Resources' stock price. Investors are optimistic about the company's future prospects, which has led to increased demand for its shares.