Citigroup Reiterates Buy Rating, $9.50 PT on WisdomTree Investments
In a report published Monday, Citigroup reiterated its Buy rating and $9.50 price target on WisdomTree Investments (NASDAQ: WETF).
Citigroup noted, “Pre-market open 12/10, WETF disclosed AUM/flows for the W/E 12/6 and we view the data mostly favorable as flows held steady W/W, WETF likely took share, and AUM moved higher following market gains. We believe organic growth remains among best in-class within Traditionals...We see WETF as: a) the best pure play on the structural growth of ETFs among our global coverage; b) a share gainer, particularly among equities; c) offering solid leverage to building AUM; and, d) one of the few margin expansion stories among Traditionals. We will revisit our model prior to 4Q EPS.”
WisdomTree Investments closed on Friday at $6.14.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.