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UPDATE: Morgan Stanley Initiates Waddell & Reed Financial at Equal-Weight on Flow Headwinds

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Morgan Stanley initiated coverage on Waddell & Reed Financial (NYSE: WDR) with an Equal-weight rating and a $35 price target.

Morgan Stanley noted, "[W]e see significant organic growth opportunities driven by expansion of WDR's strong-performing product platform and by increased penetration of the Wholesale & Institutional channels. However, we see equally significant challenges in elevated outflows from Waddell's Asset Strategy funds (30% of AuM) driven by performance volatility, and potential pressure on margins associated with growth in the Wholesale channel."

Waddell & Reed Financial closed at $33.06 on Thursday.

Latest Ratings for WDR

DateFirmActionFromTo
Nov 2016Keefe Bruyette & WoodsDowngradesMarket PerformUnderperform
Oct 2016CitigroupDowngradesNeutralSell
Oct 2016JefferiesMaintainsHold

View More Analyst Ratings for WDR
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Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings

 

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