TD Cowen Cuts Franklin Templeton (BEN) Price Target to $38

TD Cowen has reiterated its Buy rating on Franklin Templeton Inc. with a revised price target of $38, a 23.50% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:23 PM EDT

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TD Cowen cut its price target on Franklin Templeton Inc. ($BEN) to $38 from $40 on October 12, 2026, and rates the stock "Buy".

Since the rating, $BEN is down 2.6% to date (from the $31.81 close on Oct 12, 2026).

BEN Franklin Templeton Inc.

$30.98 +34.75% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, TD Cowen reiterated its Buy rating on Franklin Templeton Inc. with a price target of $38, down from $40.
TD Cowen's $38 price target implies 23.50% upside from Franklin Templeton Inc.'s ($BEN) current $30.77 share price.
Shares are currently trading around $30.77, which is about 19% below the analyst's target.
Franklin Templeton is set to report earnings on November 6, 2026, following a year-over-year revenue growth of 14.3%.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Franklin Templeton Inc. alert may contain errors. Disclosures

TD Cowen has reiterated its Buy rating on Franklin Templeton Inc. (NYSE: BEN) on October 12, 2026, and set a new price target of $38. This is a decrease from the previous target of $40. The firm's analysis follows Franklin Templeton's recent financial performance, which showed a year-over-year revenue growth of 14.3%.

Other Institutional Activity in Franklin Templeton Inc.

Blackrock Inc. grew its holdings by 143,832 shares, ending with 28,910,284 shares worth about $895.4 million. State Street Corporation added 119,643 shares, bringing its total to 19,733,211 shares valued at approximately $611.1 million. Vanguard Capital Management LLC slightly increased its stake by 46,206 shares, totaling 20,135,638 shares worth about $623.6 million. Meanwhile, Power Corp of Canada reduced its position by 6,216,671 shares, resulting in 25,340,031 shares valued at about $784.8 million. Vanguard Portfolio Management LLC cut its holdings by 107,979 shares, now holding 13,735,521 shares worth roughly $425.4 million.

Franklin Templeton Inc. Stock Down 6.8%

Franklin Templeton shares are currently trading around $30.77 as of October 16, 2026. This price is about 19% below TD Cowen's new price target of $38. The stock's performance reflects a significant difference from the target, indicating potential upside if the company meets its growth expectations.

12-month forecast

$BEN price target

Franklin Templeton Inc. daily closes and this analyst's $38 target. Not advice.

Recent Earnings

Franklin Templeton reported trailing twelve-month revenue of approximately $9.32 billion and an earnings per share (EPS) of $1.47. The company has a net margin of 8.7% and a return on equity (ROE) of 7.9%. Its next earnings report is scheduled for November 6, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

A- 85/100

Reported Apr 28, 2026

Forward outlook
5 analysts raised price targets.
EPS & revenue
EPS beat estimates by 27.7%. Revenue beat estimates by 32.9%.
Profit surprise
EBITDA missed by 5 percent. Operating income beat by 6 percent.
Pre-earnings setup
Bar was low, analysts cautious going in.
Analyst signal
2 upgrades, 5 target raises.
Earnings quality
Gross margin down 26.0 points. Operating margin up 7.2 points. Positive free cash flow.

Earnings Call Summary

Franklin reported record long-term inflows of 118.6 billion dollars, up 22 percent from the prior year. The company ended the quarter with 1.68 trillion dollars in assets under management. Management emphasized that clients now want integrated solutions across public and private markets rather than standalone products, positioning Franklin well given its broad platform spanning 150 countries and all asset classes.

Guidance Franklin expects operating margins to reach the high 20s percent by the end of fiscal 2026 at flat markets, up from current levels. The company guided second quarter expenses of roughly 1.3 billion dollars, with bigger cost savings in quarters three and four. The company also expects alternative asset fundraising between 25 to 30 percent for the full year.

Clearly positive report. Results were better than expected, though the forward reset is not the strongest.

Insider Buying and Selling at Franklin Templeton Inc.

Charles B. Johnson, a beneficial owner, sold 420 shares for $17.57 each on April 4, 2025, totaling about $7,379. He also purchased 50,000 shares at an average price of $21.49 on November 18, 2025, worth about $1,074,475, and another 50,000 shares at $21.20 on November 20, 2025, totaling approximately $1,060,000.

Analysts Set New Price Targets

On October 12, 2026, TD Cowen maintained its Buy rating with a price target of $38. Concurrently, JP Morgan also maintained a Neutral rating with a target of $35. Earlier, on October 9, Evercore ISI Group reiterated its Underperform rating with a target of $35, and Morgan Stanley kept its Equal-Weight rating with a target of $35.

About Franklin Templeton Inc.

Franklin Templeton Inc. is a publicly owned asset investment manager based in San Mateo, CA. The firm provides investment services to individuals and institutions, including pension plans and partnerships. It offers various mutual funds and invests in public equity, fixed income, and alternative markets.

Bottom Line

Investors should watch for Franklin Templeton's upcoming earnings report on November 6, 2026, for further insights into its performance. The recent analyst ratings and price targets reflect differing views on the company's potential amid its current market position.