Craig-Hallum starts WisdomTree with Buy on growth potential

Craig-Hallum initiated coverage of WisdomTree with a Buy rating and $12 price target. The analyst says WisdomTree’s key advantage against industry giants Vanguard, Blackrock and State Street is its “ability and willingness to quickly design and launch the products in niche categories early where they can take meaningful market share without the need to win ‘big beta buckets.'” The firm believes significant growth potential in managed models remains and says the company’s first-mover advantage in blockchain “presents a practical, outsized risk/reward.”