Evercore price target raised to $306 from $273 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Evercore to $306 from $273 and keeps an Overweight rating on the shares. The Fed is cutting rates faster than the firm expected in a soft landing environment and recession risk is “even lower,” the analyst tells investors. With sponsor activity set to accelerate meaningfully and election and regulatory clarity “coming soon,” the firm now bakes in a return to average industry M&A activity relative to GDP in 2025 and an overshoot above average in 2026-27, moving it toward the “bull case” for midcap advisors, the analyst noted.