Federated Investors (FII):
Citigroup upgraded Federated to buy following news on Thursday that the Securities and Exchange Commission doesn't plan to move forward with plans for increased regulation with regard to money markets.
"On 8/23, the SEC Chairman acknowledged the regulator does not have the necessary votes to bring forth proposals for further money market reform," the firm said. "This is clearly a major structural positive for money market players in particular, and moderate positive for Traditional Managers at large."
>To contact the writer of this article, click here: Michael Baron.