Jefferies Raises Price Target on Eaton Vance (EV) to $38 Ahead of 3Q Report
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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."
Shares of Eaton Vance closed at $38.76 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesUBS, Jefferies & Co, Earnings
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