Goldman Sachs Upgrades Waddell & Reed (WDR) to Buy
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Price: $24.98 --0%
Rating Summary:
0 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
0 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Goldman Sachs upgraded Waddell & Reed (NYSE: WDR) from Neutral to Buy with a price target of $84.00 (from $69.00).
Analyst Marc Irizarry sees room for the stock to outperform peers driven by sector-leading organic and EPS growth expected in 2014. According to Irizarry: (1) WDR's active equity offerings and solid performance (84% of assets in top half of peer group) suggest further share gains of rising retail equity flow; (2) operating leverage in the firm’s model is underappreciated; and (3) we see room for more multiple expansion as the firm builds further consistency and diversity of flows.
The firm lifted FY 2014 EPS from $3.94 to $4.00 and FY 2015 EPS from $4.61 to $4.95.
For an analyst ratings summary and ratings history on Waddell & Reed click here. For more ratings news on Waddell & Reed click here.
Shares of Waddell & Reed closed at $73.62 yesterday.
Analyst Marc Irizarry sees room for the stock to outperform peers driven by sector-leading organic and EPS growth expected in 2014. According to Irizarry: (1) WDR's active equity offerings and solid performance (84% of assets in top half of peer group) suggest further share gains of rising retail equity flow; (2) operating leverage in the firm’s model is underappreciated; and (3) we see room for more multiple expansion as the firm builds further consistency and diversity of flows.
The firm lifted FY 2014 EPS from $3.94 to $4.00 and FY 2015 EPS from $4.61 to $4.95.
For an analyst ratings summary and ratings history on Waddell & Reed click here. For more ratings news on Waddell & Reed click here.
Shares of Waddell & Reed closed at $73.62 yesterday.
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