Jefferies analyst Surinder Thind lowered the firm’s price target on Envestnet to $40 from $71 and keeps an Underperform rating on the shares. While the company’s Q3 results should be consistent with its guidance, the full year outlook will likely have to be modestly lowered, Thind tells investors in a research note. He expects Envestnet’s organic growth to "remain muted, averaging low-to-mid-single-digits firmwide." Ahead of the print Thind marked-to-market his model.
Published first on TheFly
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