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Nomura Initiates Coverage on Evercore Partners

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In a report published Thursday, Nomura analyst Steven Chubak initiated coverage on Evercore Partners (NYSE: EVR) at Buy with a $72.00 price target

According to the report, EVR should continue to take market share, given higher levels of SMD productivity and that reduced expense drag from new hires / growth initiatives should translate into ~500bp margin improvement through 2016, which is not reflected in consensus.

Some highlights from the report included:

-Margin expansion and strong capital return justify a ~19x blended target P/E multiple, $72 TP (24% potential upside to shares). --FY13E EPS at $2.25. -FY14E EPS at $2.86.

EVR closed Wednesday at $60.27 with shares trading up at 2.62 percent.

Latest Ratings for EVR

Jun 2014Sandler O'NeillUpgradesHoldBuy
May 2014JMP SecuritiesUpgradesMarket PerformMarket Outperform
May 2014Bernstein

View More Analyst Ratings for EVR
View the Latest Analyst Ratings

Posted-In: Nomura Steven ChubakAnalyst Color Initiation Analyst Ratings


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