Jefferies Raises Price Target on Eaton Vance (EV) to $38 Ahead of 3Q Report

Jefferies reiterated a Hold rating on Eaton Vance (NYSE: EV), and raised the price target to $38.00 (from $34.00), ahead of the company's 3Q earnings report. Estimate remain unchanged at $0.57 for the quarter and increased $0.06 to $2.63 for F2017 as a result of the flow through from higher aum's.

Analyst Daniel Fannon commented, "Ahead of earnings on 8/17, we are maintaining our F3Q16 estimate and increasing F2017 estimates by $0.06 to better reflect positive market impact. Retail flows were flat to down modestly q/q with bank loan funds showing signs of improvement late in the qtr. Notably, EV signed its first material broker/ dealer distributor (UBS) for its NextShares product offering in July."

For an analyst ratings summary and ratings history on Eaton Vance click here. For more ratings news on Eaton Vance click here.

Shares of Eaton Vance closed at $38.76 yesterday.

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