Citigroup Reiterates Buy Rating, $9.50 PT on WisdomTree Investments
In a report published Wednesday, Citigroup reiterated its Buy rating and $9.50 price target on WisdomTree Investments (NASDAQ: WETF).
Citigroup noted, “On 12/21, WETF's Japan Hedged Equity ETF (DXJ) became the seventh ETF to grow to over $1B in AUM for WETF. DXJ grew rapidly from ~$400M in AUM at 12/31/11 due to $600M+ net inflows YTD, or a ~160% organic growth rate, and produced ~$317M net inflows 12/14 through 12/21 as flows have steadily built momentum. We believe the success may beget more success with building scale and improved liquidity while we are encouraged at the variety of ETFs now eclipsing $1B in AUM – suggesting diversification that may limit sustained attrition, to some degree.”
WisdomTree Investments closed on Monday at $6.03.
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|Nov 2016||UBS||Initiates Coverage On||Sell|
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