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Fly News Breaks for March 29, 2017
WDR
Mar 29, 2017 | 07:19 EDT
After digging into his model to see if now is the time to buy, Citi analyst William Katz says he remains cautious on shares of Waddell & Reed despite the 13% decline in the stock year-to-date. The company's earnings power continues to shrink despite the upward trending markets, Katz tells investors in a research note. He sees a "rising need" for Waddell to cut its dividend. Katz keeps a Sell rating on the shares and cut his price target for the name to $14 from $15.
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