Waddell & Reed Financial (WDR) Tops Q3 EPS by 14c

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Jefferies Cuts Price Target on Waddell & Reed Financial (WDR); Reiterates Hold

October 26, 2016 8:56 AM EDT

Jefferies maintained a Hold rating on Waddell & Reed Financial (NYSE: WDR), and cut the price target to $18.00 (from $19.00), following the company's 3Q earnings report. The company highlighted -$440M of known redemptions to come out in 4Q16 as well as a slowing in... More