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Janus Henderson Group (NYSE:JHG) stock gained 1.5% in Monday midafternoon trading after UBS analyst Brennan Hawken assumed coverage and upgraded the U.K. asset manager to Neutral from Sell, as “recent results indicate improving fundamentals and early signs of success under CEO Ali Dibadj’s new strategic vision.”
Hawken specifically pointed to the company’s delivery of positive net inflows of $1.7B in Q2. That marked the first quarterly inflow since early 2023, reflecting strength in fixed income driven by momentum exchange-traded funds.
“While the improvement in overall flows is encouraging, the depleted pipeline in the institutional channel presents a meaningful opportunity for JHG to regain lost ground,” he wrote in a note to clients.
What’s more, he added, “recent strategic hires are helping to reshape their product suite to better resonate with distribution partners.”
UBS’s Neutral rate disagrees with the SA Quant system rating of Strong Buy and aligns with the average sell-side analyst rating of Hold.
