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Downgrade Alert for Evercore Partners (EVR)

By Nick Russo

Evercore Partners (NYSE:EVR) was downgraded from Buy to Hold at Rafferty Capital today. The stock closed yesterday at $50.75 on volume of 690,000 shares, above average daily volume of 308,000.

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.

Potential upside of 21.7% exists for Evercore Partners, based on a current level of $50.75 and analysts' average consensus price target of $61.78. The stock should find resistance at its 200-day moving average (MA) of $51.93, as well as support at its 50-day MA of $49.82.

Over the past year, Evercore Partners has traded in a range of $41.57 to $60.63 and closed yesterday at $50.75, 22% above that low. The 200-day and 50-day moving averages have moved 0.17% lower and 0.86% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Evercore Partners. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Evercore Partners in search of a potential trend change.

Keywords: analyst upgrades/downgrades evercore partners

Ticker(s): EVR