Eaton Vance (EV) PT Lowered to $50 at Jefferies

Jefferies lowered its price target on Eaton Vance (NYSE: EV) to $50.00 (from $51.00) while maintaining a Hold rating following Q4 results which missed by a penny on lower-than-expected revenue, driven by fee-mix.

Analyst Daniel Fannon notes the pipeline for institutional mandates remains strong across Parametric, Calvert, High Yield and other products. Meanwhile, tax reform, in its current state, would serve as a tailwind, he said.

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