Morgan Stanley Sees Waddell & Reed Financial Selling An Investment Process, Not Just Products

In a report published Thursday, Morgan Stanley analyst Thomas Whitehead reiterated an Equal-Weight rating and $70.00 price target on

. In the report, Morgan Stanley noted, “WDR focused on its unique investment culture and process at its first Investor Day, highlighting its connection to strong fund performance and role in the firm's marketing and distribution efforts, both of which remain key to continuing to achieve organic growth above peers.” Waddell & Reed Financial closed on Wednesday at $62.15.