Market Overview

UPDATE: JP Morgan Raises PT to $37 on Eaton Vance, Maintains Neutral on Higher Expenses

Share:
Related EV
Earnings Scheduled For May 20, 2015
Citi Upgrades Eaton Vance
Company News for May 21, 2015 - Corporate Summary (Zacks)

JP Morgan maintained Eaton Vance (NYSE: EV) with a Neutral rating and raised the price target from $33.00 to $37.00.

JP Morgan said, "EV reported F1Q adj. EPS of $0.50, missing our estimate of $0.53 on higher expenses and share count. Eaton Vance reported solid sales during the quarter, but the lack of operating leverage was disappointing and led to a negative market reaction following the results. Overall, Eaton Vance is benefiting from its recent deals and liftouts, which we believe is driving sales and could drive earnings, but only if it can manage expenses better than it did last quarter. We expect better sales going forward at the cost of a lower blended fee rate. We also model higher expenses and sharecount then previously expected."

Eaton Vance closed at $38.75 on Wednesday.

Latest Ratings for EV

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

View More Analyst Ratings for EV
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (EV)

Around the Web, We're Loving...