UPDATE: Goldman Sachs Lowers PT on Evercore Partners to $42

Goldman Sachs is out with its report today on Evercore Partners (NYSE: EVR), lowering its PT from $43 to $42.

In a note to clients, Goldman Sachs writes, "We lower our 2Q and 2011/2012/2013 EPS estimates to $0.42 and $1.60/$2.50/$3.20 from $0.57 and $1.85/$2.60/$3.30 to reflect guidance, the impact of the Lexicon transaction, inclusion of primary share issuance, and a more conservative revenue/banker estimate. Our 12-month price target goes to $42 (from $43), and we see 21% upside over that time period."

Goldman Sachs maintains Buy on EVR.

At the time of posting, shares of EVR were trading pre-market at $33.56, down 5.86% from Monday's close.