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UPDATE: Jefferies Raises PT on Waddell & Reed Financial on 2Q13 Asset Manager Preview

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In a report published Monday, Jefferies analyst Daniel T. Fannon reiterated a Hold rating on Waddell & Reed Financial (NYSE: 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.

Latest Ratings for WDR

DateFirmActionFromTo
Dec 2020Morgan StanleyUpgradesUnderweightEqual-Weight
Dec 2020Evercore ISI GroupUpgradesUnderperformIn-Line
Oct 2020Morgan StanleyMaintainsUnderweight

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