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UPDATE: Citigroup Raises PT on Eaton Vance Following June AUM Report

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Earnings Scheduled For November 22, 2016
Earnings Scheduled For August 17, 2016
Eaton Vance (EV) Q1 2017 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Tuesday, Citigroup analyst William R. Katz reiterated a Neutral rating on Eaton Vance (NYSE: EV), and raised the price target from $37.00 to $40.00.

In the report, Citigroup noted, “Intraday 7/15, EV disclosed AUM totaled $261B at 6/30, up 10 bps since 4/30 and 1% > our $257B forecast (Figure 1). The higher than forecast AUM appear to be primarily driven by higher than forecast net inflows into low(er) fee Implementation Services (~28% of 6/30 AUM). Nonetheless, data are solid, in our view, given F3Q13TD flows appear to be tracking above F2Q13 and volumes appear diversified across asset class (including institutional equities) though still concentrated into low(er) fee businesses.”

Eaton Vance closed on Monday at $40.14.

Latest Ratings for EV

DateFirmActionFromTo
Feb 2017Bank of AmericaUpgradesUnderperformNeutral
Aug 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Aug 2016JefferiesMaintainsHold

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Posted-In: Citigroup William R. KatzAnalyst Color Price Target Analyst Ratings

 

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