TD Cowen Raises Price Target on Franklin Resources (BEN)

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TD Cowen's Bill Katz raised his price recommendation on Franklin Resources, Inc. (NYSE:BEN) to $36 from $30, keeping a Hold rating in place. Franklin Resources also announced a new initiative with Binance, launching an institutional off-exchange collateral program designed to make participation in digital markets more secure and capital-efficient.

Why it matters

This move by TD Cowen and the new collateral program with Binance could signal increased optimism around Franklin Resources' outlook, as the firm looks to expand its offerings and make digital asset trading more accessible for institutional investors.

The details

After reviewing Franklin Resources' Q4 results, TD Cowen adjusted its model and said it had become incrementally more optimistic about the stock's outlook. The new collateral program with Binance allows eligible institutional clients to use tokenized money market fund shares, issued through Franklin Templeton's Benji Technology Platform, as collateral when trading on Binance. This structure addresses a common concern for large traders by allowing the underlying assets to remain held off-exchange in regulated custody.

• On February 2, TD Cowen's Bill Katz raised his price recommendation on Franklin Resources, Inc. (NYSE:BEN) to $36 from $30.
• A few days later, on February 11, Franklin Resources announced the new initiative with Binance.

What they’re saying

What’s next

The new collateral program with Binance is now live, allowing eligible institutional clients to use tokenized money market fund shares as collateral when trading on the Binance platform.