Evercore price target raised to $370 from $365 at Keefe Bruyette

Keefe Bruyette analyst Alex Bond raised the firm’s price target on Evercore (EVR) to $370 from $365 and keeps an Outperform rating on the shares. The company reported a strong advisory revenue beat and a lower quarter-over-quarter comp ratio in Q2, the analyst tells investors in a research note. The firm upped estimates for Evercore to reflect a strengthening backdrop and continues to view the company as the best way to play a recovery in merger volumes.