UPDATE: Citi Lowers PT on Eaton Vance to $29 (EV)
Citi is out with its report today on Eaton Vance (NYSE: EV), lowering its price target from $30 to $29.
In a note to clients, Citi writes, "We affirm our non consensus Sell recommendation, trim our calendarized 2011-12 “cash” EPS estimates and shave $1 from our 12-month price target to $29 following mixed post F1Q11 conference call on 2/23. On a 'GAAP' EPS basis, we adjust our F11-12 (October) estimates from $1.87 and $2.08 to $1.75 and $2.15."
Shares of EV closed yesterday at $31.24, down 5.16% from Tuesday's close.
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