UPDATE: Goldman Sachs Removes WisdomTree Investments from Americas Conviction Buy List
In a report published by Goldman Sachs, analyst Marc Irizarry downgraded WisdomTree Investments (NASDAQ: WETF) from Conviction List Buy to Buy and maintained its $11.50 price target.
Goldman Sachs reported that, “We remove WETF from the Americas Conviction List, but retain our Buy rating. We are still constructive on WETF's flow and margin expansion story, supported by robust weekly flow reports. The market now prices in more of the potential strong growth ahead for the firm as estimates have come up and the stock has outperformed. Since being added to the Conviction Buy List on October 5, 2012, WETF is up 57% vs. the S&P 500 up 7% and Asset Managers under coverage up 26%, on average. Over the past 12 months, WETF is up 35% vs. the S&P 500 up 11% and Asset Managers up 22%.”
Shares of WisdomTree Investments close at $10.82 on Wednesday
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Tags: Goldman Sachs