Morgan Stanley raised the firm’s price target on WisdomTree (WT) to $13.50 from $12.50 and keeps an Equal Weight rating on the shares. The macro backdrop has shifted more favorably with better Q3 mark to market, which drives upwards earnings revisions across the traditional money managers, notes the analyst, who also sees scope for widespread ETF share class approval that could be a positive catalyst for the space as ETF share class approval would allow an asset manager to create an ETF as a share class of an existing open-end mutual fund.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WT:
- WisdomTree Completes Acquisition of Ceres Partners
- XRP Price Is in ‘Compression,’ Analyst Says, and It Is ‘Setting Up for a Decisive Move’
- Billions in XRP Are Moving Into Institutional Hands. Here Are 5 Major Companies Buying In.
- Crypto Currents: Major banks back $136M blockchain payment initiative
- WisdomTree reports month-end AUM of over $131B