In a report published Monday, Jefferies analyst Daniel T. Fannon reiterated a Hold rating on Waddell & Reed Financial WDR, and raised the price target from $40.00 to $43.00.
In the report, Jefferies noted, “Both the traditional and alternative asset managers will begin reporting 2Q13 earnings the week of July 15, with BLK and BX out of the gate first. Our estimates revisions vary considerably amongst managers as performance across markets also varied considerably. Fund flow trends generally decelerated throughout the quarter. On a relative basis we believe AMG remains best positioned for growth in the current environment.”
Waddell & Reed Financial closed on Friday at $45.19.
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