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Fly News Breaks for September 13, 2019
WDR
Sep 13, 2019 | 06:21 EDT
BofA/Merrill analyst Michael Carrier downgraded Waddell & Reed to Underperform and lowered his price target to $17 from $18. The analyst is citing his expectations of elevated outflows, some weakness in investment performance, the industry headwinds, and the recent bounce in the stock, even though he sees the company's balance sheet remaining healthy and expects its buybacks to continue.
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