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Non-Tech : Waddell & Reed (WDR) takeover candidate

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To: drsterling who started this subject6/27/2001 2:09:52 PM
From: drsterling   of 3
 
WADDELL & REED FINANCIAL INC. (WDR) rated a BUY

RATING WDR A BUY. Friedman, Billings, Ramsey & Co. (FBR) has rated Waddell & Reed Financial Inc. (WDR) a BUY and 12-months price target of $44 a share.
WDR is a mutual fund company distributing funds through a sales force that represents the company on a virtually exclusive basis.
NO INTERMEDIARY. WDR bypasses the intermediaries by distributing funds directly through its proprietary sales force. This allows WDR to make money accumulating assets, while competitors incur large expenses to pay for commissions and advertising.
HIGH PROFITABILITY OF ASSETS. The combination of high retention and healthy fees makes a dollar of assets generated by WDR three times more profitable than the industry average.
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