BofA upgrades Janus Henderson to 'buy', trims PT

BofA Global Research upgrades asset manager Janus Henderson JHG.N to "buy" from "neutral", cuts PO to $43 from $57

Shares fall 7.5% at $34.06 amid the broader market selloff

JHG's investment performance is broadly strong across its active equity and fixed-income businesses - brokerage

Adds JHG in a strong position to win significant bond reallocations over the next three years as investors move out of cash and extend durations

"JHG has been attracting new investment talent and rehiring former investment professionals/leaders that have been attracted to the company's improving culture," says brokerage

As of last close, JHG stock down 13.4% YTD, compared with a 3.6% decline in the S&P 500 .SPX