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Fly News Breaks for November 16, 2016
WDR
Nov 16, 2016 | 05:40 EDT
Keefe Bruyette analyst Robert Lee downgraded Waddell & Reed to Underperform saying that while the potential repeal or watering down of the Department of Labor Fiduciary rule is a positive. the stock has "moved too far too fast." Performance challenges facing the company continue, Lee tells investors in a research note. He raised his price target for Waddell shares to $18 from $16.50.
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