is taking on a pair of Jefferies
analysts, or at least frowning on two publicly-traded asset managers that those analysts favor.
Katz, a Citigroup
analyst covering asset managers, has downgraded Invesco
] to a "neutral" recommendation (from "buy"), Chris Dieterich of Barron's reports
. And last week Katz reportedly "threw cold water"
on speculation that WisdomTree
] is a good acquisition target for other asset managers.
Meanwhile, Jefferies' Surinder Thind
that WisdomTree's share price dip makes it a more attractive acquisition target for other shops, including Franklin Templeton
and T. Rowe Price
. And last week Thind's colleague, Daniel Fannon
Invesco as checking "the box with all of these buzz words."
This isn't the first time
this year that Katz has written about his concerns about WisdomTree. And on the Invesco side, Fannon's comments came before the United Kingdom's Brexit quote last Thursday, while Katz's came after that vote. One of Katz's Invesco worries is that "investors likely contemplate knock on impacts from "Brexit" with no quick answers," and Invesco's shares have
a big hit since the vote.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now