Goldman Sachs upgraded Evercore to Buy from Neutral with a price target of $276, up from $246. The firm expects the company to continue delivering above-average revenue growth and market share gains, as investments in advisory and non-advisory bear fruit, and given its best-in-class skew to parts of the cycle that is expected to outperform, the analyst tells investors in a research note. Goldman Sachs sees Evercore top line growing at a 16% CAGR from 2024 to 2026 relative to 10% for its peers as well as gaining a percentage point of advisory share, the firm added.
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