Analysts at Sterne Agee on Wednesday boosted their earnings estimates for investment manager Eaton Vance Corp. (EV).
The firm said it raised its estimates for EV through 2013, citing a promising earnings outlook. However, Sterne Agee noted that a return to historical growth rates for the company isn’t likely in the near term.
The analyst also maintained its “Neutral” rating and $27 price target on EV, suggesting a nearly 20% upside to the stock’s Tuesday closing price of $22.58.
Eaton Vance shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Eaton Vance (EV) have a 3.19% dividend yield, based on last night’s closing stock price of $22.58. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $24-$26 price levels.
Eaton Vance Corp. (EV) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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