UPDATE: Citigroup Raises PT on WisdomTree Following 2Q Results

In a report published Monday, Citigroup analyst William R. Katz reiterated a Neutral rating on WisdomTree WETF, and raised the price target from $13.50 to $14.00.

In the report, Citigroup noted, “We come off 2Q results and the post quarter call encouraged around: 1) gross margin guidance; 2) LT flow prospects for the ETF industry; and, 3) diversified share gains for WETF. QTD volumes continue to track above the high end of our AUM glidepath analysis – supporting the argument for a premium valuation...We affirm our Neutral rating while we view management commentary around the efficacy of ETFs during June volatility and bullish industry growth expectations positive for BLK and IVZ. We continue to view the LT flow opportunity favorably. The shares have produced a large bounce YTD, and thus we look for a pullback to get more aggressive. We believe the key to create shareholder value is building diversified growth as DXJ now represents 37% of AUM.”

WisdomTree closed on Friday at $13.69.