It's All About M&A as Goldman Lifts Evercore, Cuts Lazard: ChartBy and
Investors should buy Evercore Partners Inc. stock in a bet that the global surge in mergers and acquisitions will help fee income at the investment bank, Goldman Sachs Group Inc. said.
There is “still room to run on the M&A growth cycle,” Goldman Sachs said in a note to investors, raising Evercore’s rating from neutral and reiterating its buy call on Greenhill & Co. Bigger rival Lazard Ltd., which has a greater reliance on asset management and emerging markets, was cut to neutral.
— With assistance by James Cone
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