Morgan Stanley analyst Michael Cyprys upgraded WisdomTree Investments to Overweight from Equal Weight with a price target of $6, up from $5.25. WisdomTree is the only pure play on structural growth in exchange traded funds, but concentration challenges have stunted its growth, Cyprys tells investors in a research note. The analyst, however, sees headwinds from legacy funds fading and expects the company's growth to reaccelerate. Further, the stock's 9% pullback year-to-date creates a compelling entry point, Cyprys tells investors in a research note.

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