JPMorgan lowered the firm’s price target on Wealthfront (WLTH) to $10 from $16 and keeps an Overweight rating on the shares following the Q4 report. The company’s platform assets in line but its outflows within the cash management segment drove a weak quarter of overall flows, the analyst tells investors in a research note. The firm thinks the long-term drivers of the Wealthfront platform remain intact and likes the stock’s risk/reward setup at current levels. It cites lower estimates and valuation assumptions for the target cut.
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