Ticonderoga Maintains a 'Buy' on Evercore Partners (EVR); Having Another Strong Quarter For Announced Deals
Tweet Send to a FriendGet Alerts EVR Hot Sheet
Price: $41.04 --0%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 20
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 20
Trade EVR Now!
Ticonderoga maintains a 'Buy' on Evercore Partners (NYSE: EVR), PT $37.
Ticonderoga analyst says, "We continue to think shares offer a great opportunity to gain exposure to an improving M&A climate. LAZ does as well, but asset management plays a larger role; EVR is more of a pure play with roughly 90%-plus of operating income derived from the advisory business. (EVR was named an advisor to International Paper (NYSE: IP) in its $3.4bn hostile bid for Temple-Inland (NYSE: TIN))."
"EVR continues to expand their relationships overseas and add to headcount. Last week EVR announced a strategic relationship with Woori Investment & Securities, a leading South Korean i-bank; this should compliment EVR's current relationships in Asia with CITIC and Mizuho. Relative to peers, expansion into international markets offers the greatest growth opportunity for EVR, as only 22% of revenues have come from outside the US over the last three years (45% for Lazard (NYSE: LAZ) and 28% for Greenhill (NYSE: GHL)). In addition, EVR continues to add to headcount, hiring four Senior Managing Directors so far this year; the new hires specialize in technology, industrials, chemicals, consumer, energy and restructurings. We estimate that advisory MD headcount is up 9% from the end of Q4'10."
For more ratings news on Evercore Partners click here and for the rating history of Evercore Partners click here.
Shares of Evercore Partners closed at $34.20 yesterday, with a 52 week range of $21.02-$37.26.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Ticonderoga analyst says, "We continue to think shares offer a great opportunity to gain exposure to an improving M&A climate. LAZ does as well, but asset management plays a larger role; EVR is more of a pure play with roughly 90%-plus of operating income derived from the advisory business. (EVR was named an advisor to International Paper (NYSE: IP) in its $3.4bn hostile bid for Temple-Inland (NYSE: TIN))."
"EVR continues to expand their relationships overseas and add to headcount. Last week EVR announced a strategic relationship with Woori Investment & Securities, a leading South Korean i-bank; this should compliment EVR's current relationships in Asia with CITIC and Mizuho. Relative to peers, expansion into international markets offers the greatest growth opportunity for EVR, as only 22% of revenues have come from outside the US over the last three years (45% for Lazard (NYSE: LAZ) and 28% for Greenhill (NYSE: GHL)). In addition, EVR continues to add to headcount, hiring four Senior Managing Directors so far this year; the new hires specialize in technology, industrials, chemicals, consumer, energy and restructurings. We estimate that advisory MD headcount is up 9% from the end of Q4'10."
For more ratings news on Evercore Partners click here and for the rating history of Evercore Partners click here.
Shares of Evercore Partners closed at $34.20 yesterday, with a 52 week range of $21.02-$37.26.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- UPDATE: Macquarie Downgrades Sprint (S) to Neutral
- Wells Fargo Starts Quintiles (Q) at Outperform
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Lazard
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
