Nomura Securities Downgrades Evercore Partners (EVR) to Neutral; EPS Upside Priced In

Nomura Securities downgraded Evercore Partners (NYSE: EVR) from Buy to Neutral, saying while management delivered on all fronts, EPS upside appears priced in.

Analyst Steven Chubak commented, "EVR D/G did not come lightly as we view both the franchise and management as best-in-class, and believe the firm is well positioned to deliver strong EPS growth next year. However, the stock is trading near its 52 week high, and much of the YTD share performance (+13%) has been attributable to multiple expansion vs. EPS momentum, as strong earnings growth is already baked into cons. With the stock trading >16x 2016E, shares look fairly valued."

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 $59.04 yesterday.

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