Analyst Ryan Kenny from Morgan Stanley maintained a Buy rating on Evercore Partners and decreased the price target to $373.00 from $397.00.
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Ryan Kenny has given his Buy rating due to a combination of factors that highlight Evercore Partners’ strong performance and potential for growth. Despite some adjustments in earnings projections, the company has demonstrated a solid earnings performance, surpassing expectations with a 7% EPS beat compared to consensus estimates. This was largely driven by increased revenues and a favorable reduction in the compensation ratio.
Moreover, the overall outlook for Evercore Partners remains positive, as the dealmaking environment shows signs of improvement. Although there are concerns regarding the compensation ratio and seasonal revenue fluctuations, the management’s guidance and the company’s ability to adapt to changing market conditions support the Buy rating. The firm’s strong market position and potential for future growth make it an attractive investment option.
In another report released on October 21, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $363.00 price target.