Envestnet price target raised to $64 from $56 at RBC Capital

RBC Capital raised the firm’s price target on Envestnet to $64 from $56 and keeps a Sector Perform rating on the shares. The company’s Q1 results were roughly in line with expectations, the analyst tells investors in a research note, adding however that the quarter was highlighted by its solid competitive position and solutions set driving asset flows that were significantly ahead of the firm’s forecast.