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Analyst Rating Flashback: Evercore Partners Up 0.6% Since Downgraded 7 Days Ago (EVR)

Published on Fri, 04/12/2013 - 09:11
By Peter Chu

Keefe Bruyette downgraded Evercore Partners (NYSE:EVR) from Outperform to Market Perform a week ago. The stock closed at $38.83, which is 0.6% higher than the price one week ago ($38.58).

Evercore Partners Inc. is an investment banking boutique. The firm provides advisory services to multinational corporations on mergers, acquisitions, divestitures, restructurings and other corporate transactions. Evercore also manages private equity funds for institutional investors.

In the past 52 weeks, shares of Evercore Partners have traded between a low of $20.57 and a high of $44.53 and are now at $38.67, which is 88% above that low price. The 200-day and 50-day moving averages have moved 0.95% higher and 0.62% higher over the past week, respectively.

Potential upside of 12.7% exists for Evercore Partners, based on a current level of $38.67 and analysts' average consensus price target of $43.60. The stock should hit resistance at its 50-day moving average (MA) of $40.54, as well as support at its 200-day MA of $30.29.

By Peter Chu