Envestnet price target raised to $74 from $72 at Raymond James

Raymond James analyst Patrick O’Shaughnessy raised the firm’s price target on Envestnet to $74 from $72 and keeps an Outperform rating on the shares. Market appreciation during Q2 will have little impact on Envestnet’s results as asset-based revenue is generated from quarter-beginning AUM/A, and the firm expects investors to be focused on commentary regarding the health of the sales pipeline at Yodlee and signs of any additional client challenges, the analyst says in a research note.