Fly News Breaks for May 20, 2019
May 20, 2019 | 09:12 EDT
As previously reported, BofA/Merrill double downgraded Eaton Vance to Underperform from Buy and cut its price target to $37 from $45. Analyst Michael Carrier lowered estimates to reflect slower flow trends, a difficult product mix, and potential margin pressures ahead. Carrier expects higher fee floating rate and alternative products to experience outflows given weak performance and macro trends.
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