Goldman Sachs Upgrades Eaton Vance (EV) to Neutral

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Goldman Sachs upgraded Eaton Vance (NYSE: EV) from Sell to Neutral with a price target of $29.50 (from $25.00).

"We upgrade EV to Neutral on improving flows as Large Cap Value outflows lighten, retail interest in tax-managed strategies grows and the firm leverages long-term benefits from the Hexavest/Clifton acquisitions," the analyst comments.

Goldman Sachs raised FY2013/2014 estimates to $2.10/$2.33 from $1.98/$2.13 on higher flow and introduce FY2015 EPS.

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 $31.88 yesterday, with a 52 week range of $22.13-$32.17.

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