Goldman Sachs analyst James Yaro assumed coverage and upgraded Evercore to Buy from Neutral with a price target of $125, up from $105. The analyst states that relative to the softer industry M&A and trading backdrop there is less pressure on the company’s top-line relative to peers. Yaro adds that based on his earnings estimates, Evercore trades at only slightly above the historic P/E multiple whereas peers trade at a premium of 2-times, making the stock appear "more insulated" from EPS downgrades.
Published first on TheFly
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