UPDATE: Jefferies Raises PT to $28 on Eaton Vance on Organic Growth
Jefferies reiterated its Hold rating on Eaton Vance (NYSE: EV) and raised its price target from $26 to $28.
Jefferies said, "EV achieved positive organic growth in the quarter and fiscal year behind improved fixed income and global macro flows as well as institutional wins at Parametric. Retail equity redemptions continue to be dominated by Large Cap Value, albeit at a decelerating rate. With pending tax law changes, EV's tax managed product suite has the potential for improved demand trends in 2013."
Eaton Vance closed at $29.03 on Wednesday.
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