UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on WisdomTree Investments

In a report published Friday, Morgan Stanley reiterates its Equal-Weight rating on WisdomTree Investments (NASDAQ: WETF), and raised its price target to $8.00.

Morgan Stanley noted, “The withdrawal of Research Affiliates' patent infringement lawsuit removes a significant overhang on WETF & returns the focus to organic growth. We're raising our normalized 2016 EPS estimate to 37c and price target to $8 after removing an assumed licensing fee settlement.”

WisdomTree Investments closed on Thursday at $6.21.

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