WisdomTree (WETF +3%) sails right through a downgrade from Buy to Hold by Citi's William Katz....


WisdomTree (WETF +3%) sails right through a downgrade from Buy to Hold by Citi's William Katz. After the stock more than doubled over the past year, Katz suggests the upside is already discounted. Applying a valuation metric used for BlackRock (and adjusting for WisdomTree's faster growth) leads to fair value for the shares of around $12, says Katz.
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  • Mike Lipper, CFA
    , contributor
    Comments (10) | Send Message
     
    They are very different animals and both could be attractive, one on potential market share gains and the other for a potential turnaround in its relative performance and its overseas exposure. BlackRock most logical peer would be Invesco and WisdomTree and this is a stretch, Cohen&Steers, Consider what each will do when the public comes into the game in a big way.
    17 Jun 2013, 11:06 PM Reply Like
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