WisdomTree price target lowered to $20 from $21 at Oppenheimer

Oppenheimer lowered the firm’s price target on WisdomTree (WT) to $20 from $21 and keeps an Outperform rating on the shares. The firm notes WisdomTree recently announced plans to acquire U.K.-based Atlantic House Holdings, a private fund manager offering derivatives-driven products, for about $200M. When the deal closes, Oppenheimer believes WisdomTree will benefit both from a broadened product which includes “defined outcome” investments as well as from the ability to cross-sell both companies’ investment products in Europe and the U.S. The acquisition, which the firm estimates will also be accretive to diluted EPS, makes both strategic and financial sense, Oppenheimer adds.