TD Cowen has increased its price target for Franklin Resources (NYSE:BEN) to $28 from $27, while maintaining a Buy rating due to improving long-term fundamentals. The firm highlights stabilizing outflows from the firm’s fixed-income subsidiary as a key point of inflection. Additionally, TD Cowen has raised its earnings estimates for the next two fiscal years, indicating potential upside.

The firm points out several driving factors for optimism: enhancing net flow trends, positive internal signals, and a supportive macroeconomic environment. They believe these factors position Franklin favorably for a rebound in investor interest.