Nomura Securities Starts Evercore Partners (EVR) at Buy, $72 PT

January 9, 2014 7:53 AM EST Send to a Friend
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Price: $51.93 +0.02%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Nomura Securities initiates coverage on Evercore Partners (NYSE: EVR) with a Buy. PT $72.00.

"We believe that EVR should continue to take market share, given higher levels of SMD productivity and that reduced expense drag from new hires / growth initiatives should translate into ~500bp margin improvement through 2016, which is not reflected in consensus," analyst Steven Chubak states. "Margin expansion and strong capital return justify a ~19x blended target P/E multiple, $72 TP (24% potential upside to shares). FY13E EPS at $2.25; FY14E EPS at $2.86."

For an analyst ratings summary and ratings history on Evercore Partners click here. For more ratings news on Evercore Partners click here.

Shares of Evercore Partners closed at $58.73 yesterday.


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