Morgan Stanley analyst Ryan Kenny upgraded Evercore (EVR) to Overweight from Equal Weight with a price target of $312, up from $175. The firm, which also raised its Midcap Advisors Industry View to In-Line due to improving market conditions for dealmaking, expects the pipeline to start moving again, driven by rapidly improving market conditions, regulatory clarity, significant pent-up demand, and structural drivers of M&A, the analyst tells investors in a group note.
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