As previously reported, DA Davidson analyst Peter Heckmann downgraded Envestnet to Neutral from Buy but also raised his price target to $67 from $64, saying the rebound in shares has taken valuation on the stock to more fair levels. In spite of the increase in financial leverage, the analyst also views Envestnet's PIEtech acquisition last week positively, positioning the company as a "leader in financial planning solutions for financial advisors." Given that earnings accretion from the deal is expected to be immediate, Heckmann raises his Envestnet EPS outlook for FY19 and FY20 by 10c and 12c to $2.14 and $2.62 respectively.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here