Market Overview

UPDATE: Bank of America Upgrades WisdomTree to Buy on Settlement, Valuation

Share:
Related WETF
Benzinga's Top Initiations
A Different Spin On The Traditional Bond ETF
WisdomTree's (WETF) CEO Jon Steinberg on Q4 2015 Results - Earnings Call Transcript (Seeking Alpha)

Bank of America raised its rating on WisdomTree (NASDAQ: WETF) from Underperform to Buy with a reiterated $7 price objective.

Bank of America noted, "We are upgrading WETF to Buy from Underperform based on a favorable settlement of a patent infringement lawsuit with Research Affiliates, along with attractive valuation. … Under the agreement WETF may introduce new fundamentally weighted ETFs that are weighted by less than three fundamental factors. Based on our reading of the material terms of the settlement, we believe that this should enable WETF to utilize its historical dividend and earnings-weighted methodology on future products. … We maintain our $7 price objective, which implies attractive potential upside of 22%."

WisdomTree closed at $5.72 on Wednesday.

Latest Ratings for WETF

DateFirmActionFromTo
Feb 2016Northland SecuritiesInitiates Coverage onOutperform
Jan 2016Northland SecuritiesInitiates Coverage onNeutral
Jan 2016Goldman SachsDowngradesNeutralSell

View More Analyst Ratings for WETF
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (WETF)

Get Benzinga's Newsletters