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

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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 2016JefferiesMaintainsHold
Feb 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Jan 2016SusquehannaUpgradesNegativeNeutral

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Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

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