Jefferies Upgrades Waddell & Reed (WDR) to Buy

Jefferies upgraded Waddell & Reed (NYSE: WDR) from Hold to Buy with a price target of $64.00.

Analyst Daniel Fannon said, "While headwinds remain, recent flow trends have improved and the company’s long-term investment performance track record and strong capital position provide a solid backdrop. At 13x our 2015 estimate, we believe the risk/reward in the shares is compelling and represents an attractive entry point for long-term investors."

The firm trimmed FY 2015 EPS from $4.27 to $4.24.

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 $54.50 yesterday.

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