UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Waddell & Reed Financial

In a report published Wednesday, Jefferies reiterated its Hold rating on Waddell & Reed Financial

, and raised its price target from $33.00 to $37.00. Jefferies noted, “WDR reported 4Q12 EPS from continuing operations of $0.61 compared to our estimate of $0.60 and consensus of $0.58. Operating margins held steady q/q. Flow trends remain dominated by fixed income; however, overall flows appear to be trending positive in early 2013 as industry trends improve.” Waddell & Reed Financial closed on Tuesday at $39.14.