JHG - Citi upgrades Janus Henderson to Neutral expects reduced outflows in Q1

2023-04-06 11:36:16 ET

• Citi on Thursday raised its rating on asset management group Janus Henderson ( NYSE: JHG ) to Neutral from Sell ahead of its Q1 results on May 3, on account of reduced outflow expectations.
• "We forecast significantly reduced net outflows for JHG in Q1, perhaps suggesting some initial progress with its strategy," said analyst Nigel Pittaway. "We also expect JHG to demonstrate continued relative stability in management fee margin."
• But Pittaway warned that the negative drag from fulcrum fees will likely remain.
• Price target was raised to $25.30 from $24.60, implying 0.9% potential downside to JHG's last close.
• Janus Henderson ( JHG ) stock +1% .
• Citi's stance is in line with SA Quant's Hold rating , but contrasts bearish sell-side ratings .

For further details see: