EV Downgraded to Sell by Ticonderoga on Growth Concerns
By Market News Video Staff, Tuesday, November 16, 12:07 PM ET
Ticonderoga Securities downgraded asset management firm Eaton Vance today, from neutral to sell as the firm believes Eaton Vance's shares are in the process of re-pricing based on a lower-than-expected organic growth rate. Ticonderoga expects organic growth to fall over the next several quarters.
Ticonderoga has a $25 price target on Eaton Vance shares, which are lower by 1.75% today.
Eaton Vance (NYSE:EV) is a 1.36% holding of the SPDR S&P Dividend ETF. Centurylink (NYSE:CTL) is the top stock in the fund, at 3.7% of the portfolio, followed by Pitney Bowes (NYSE:PBI) at 3.55%, and Cincinnati Financial (NASDAQ:CINF) at 3.41%.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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