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UPDATE: Sterne Agee Cuts PT to $29 on Eaton Vance on Tepid Organic Growth

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Earnings Scheduled For May 20, 2015
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Company News for May 21, 2015 - Corporate Summary (Zacks)

Sterne Agee reiterated its Neutral rating on Eaton Vance (NYSE: EV) and lowered its price target from $30 to $29.

Sterne Agee said, "EV's net flow outlook appears more positive exiting fiscal 3Q12 reflecting two sizable mandate wins expected to fund and Large Cap Value outflows that should begin to slow. That said, we continue to model fairly tepid organic growth for fiscal '13 and see limited margin upside as asset growth is occurring in lower fee/margin products. We reiterate our Neutral rating and lower our price target to $29."

Eaton Vance closed at $26.47 on Wednesday.

Latest Ratings for EV

DateFirmActionFromTo
May 2015JP MorganMaintainsUnderweight
May 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Apr 2015CitigroupDowngradesNeutralSell

View More Analyst Ratings for EV
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Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

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