Fly News Breaks for November 20, 2019
Nov 20, 2019 | 07:34 EDT
Morgan Stanley analyst Manan Gosalia initiated coverage of Evercore Partners with an Overweight rating and $96 price target, stating that he expects the stock's current discount to its own 3-year historical average to partially reverse in the medium term. This is because he sees Evercore's recent investments laying the groundwork to reaccelerate its share gains, believes the ISI acquisition is currently being undervalued, and he expects revenues to rebound in the next two quarters following the company's recent miss.
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