Zacks Investment Research upgraded shares of Federated Investors, Inc. (FII) from UNDERPERFORM to NEUTRAL on December 01, 2014, with a target price of $33.00.
We have upgraded our long-term recommendation on Federated to Neutral from Underperform following impressive third-quarter 2014 earnings, which beat the Zacks Consensus Estimate. Strong top-line growth along with higher equity assets was experienced. The company with its moderately liquid balance sheet and a diversified asset as well as product mix has good growth prospects going forward. However, rising expenses and fall in assets under management (AUM) remain concerns. Moreover, stringent regulatory pressures, slow global economic growth and a low interest rate environment are expected to keep Federated's earnings under pressure in the coming quarters.
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