- M&A activity has picked up in 2014 which bodes well for Evercore’s growth prospects.
- Recent acquisition of ISI group puts the company in a better competitive position.
- Earnings and revenue growth are expected to pick up significantly in the second half of 2014 and in 2015, leading to multiple expansion.
- I am raising my price target on Evercore to $65.
- Reward/risk is highly favorable for the bulls and I would use further weakness in the share price to accumulate shares.