Evercore initiated with a Market Perform at BMO Capital

BMO Capital initiated coverage of Evercore (EVR) with a Market Perform rating and $358 price target The firm is positive on the company’s positioning and its ability to grow over the long-term, though it also believes that consensus estimates are a struggle to reach given the steady but not “white hot” M&A market, the analyst tells investors in a research note. Evercore has been active in recruiting, which reduces the firm’s conviction around comp leverage, even though consensus “seems reasonable”, BMO added.