US Asset managers – JPMorgan (K Worthington) making pos. call on the space $JNS

• US Asset managers – JPMorgan (K Worthington) making pos. call on the space – EV and JNS both upgraded from UW to N; we favor IVZ, BEN, TROW; we would avoid JNS and FII; adjusting ests on the group - We believe the asset management sector is facing an attractive tactical entry point. While we see low valuations as consistent with challenging equity markets, we see significant value in the asset managers given their current earnings power. Furthermore, we think ICI data suggests that retail investor sales are recovering, suggesting the retail investor my not be as fragile as previously thought. As a result, we are positive on the sector and suggest investors build positions in asset managers.  Changing PTs: EV ($28 to $30), FII ($21 to $22), JNS ($8.50 to $9.50), PZN ($6.50 to $6), TROW ($56.50 to $55