UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Eaton Vance Ahead of F2Q13 Earnings

In a report published Tuesday, Jefferies analyst Daniel T. Fannon reiterated a Hold rating on Eaton Vance (NYSE: EV), and raised the price target from $40.00 to $42.00.

In the report, Jefferies noted, “Ahead of F2Q13 earnings next week we are increasing our estimate by $0.01 to reflect market appreciation and slightly higher fund flows. EV's flow trends have steadily improved in recent months, driven predominately by its floating rate products. Ultimately, EV has a handful of products that are inflowing; however, at 17x CY2014 we view the shares as fairly valued.”

Eaton Vance closed on Monday at $44.18.