The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Recent Stock Uptick Results in a Downgrade for Janus Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 26, 2009

A Recent Stock Uptick Results in a Downgrade for Janus

by: Armie Margaret Lee

J.P. Morgan has cut its rating on Janus Capital's stock from overweight to neutral due to the recent uptick in the Denver fund firm's share price, MarketWatch reports.

"While we like the trends at Janus, we'd rather advise investors to hold than buy given the volatility in equity markets," said MarketWatch's Sam Mamudi quotes JPMorgan analyst Ken Worthington as saying. "If markets continue to melt-up we think Janus will outperform, but we don't have the same downside protection based on the intrinsic value of the assets when the stock was at the $4 level."

J.P. Morgan had previously given Janus a $7 per share target. The stock went up from Friday's closing price of $5.46 to $7.04 on Monday. On Wednesday, the stock closed at $6.82.

Worthington has now upped the price target for Janus to $8 a share. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use