Evercore price target raised to $217 from $197 at Seaport Research

Seaport Research raised the firm’s price target on Evercore to $217 from $197 and keeps a Buy rating on the shares ahead of Q1 results. While Q1 revenue/completion trends were incrementally better-than-expected for the sector, “sluggish” announcements have kept the firm’s FY24 revenue estimates unchanged, the analyst tells investors. While outlook is brighter and fundamentals are expected to improve, there is little downside priced into the two-year forward outlook, the firm says. Seaport Research names Evercore as one of the two value names in the sector under its coverage.