MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, June 29, 2016 Katz Frowns On These Two Jefferies Favorites Bill Katz 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 [profile] to a "neutral" recommendation (from "buy"), Chris Dieterich of Barron's reports. And last week Katz reportedly "threw cold water" on speculation that WisdomTree [profile] is a good acquisition target for other asset managers. Meanwhile, Jefferies' Surinder Thind recently argued 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, highlighted 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 already taken a big hit since the vote. Printed from: MFWire.com/story.asp?s=54323 Copyright 2016, InvestmentWires, Inc. All Rights Reserved |