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In a research note published earlier Wednesday, Citi upgraded Waddell & Reed, Inc
WDR from Neutral to Buy and raised the price target from $66 to $76.
The firm's William Katz cited strong Q4 results. He believes Waddell & Reed is an attractive play on:
- "flow outperformance
- equities leverage
- margin improvement
- FCF return " Shares of WDR are trading up 0.29 percent to around $64.95.
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