Citi Maintains Sell on Eaton Vance

Citi is out with its report today on Eaton Vance (NYSE: EV), maintaining Sell.

In a note to clients, Citi writes, "Our caution reflects combination of deteriorating flow prospects, elevated consensus expectations, and premium valuation. In turn, with mixed equities flow prospects and what could be peaking bank loan net inflows – the latter accounting for 72% of F2Q11 LT volume for EV – the flow picture remains increasingly uncertain, and likely to keep the stock remaining under both absolute and relative pressure."

Citi maintains a $29 PT on EV.

Shares of EV closed Thursday at $31.15, up 0.97% from Wednesday's close.