Evercore Inc. is an independent investment banking firm operating in the Americas, Europe, Middle East, Africa, and Asia-Pacific. It has two segments: Investment Banking & Equities, which provides strategic advisory services such as mergers and acquisitions, restructuring, and capital markets execution, as well as research, sales, and trading; and Investment Management, which offers wealth management to high-net-worth individuals, foundations, and endowments. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Founded in 1995, it is headquartered in New York, New York.
Evercore's Research Drives Bullish Calls and AI Partnership
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Bullish S&P 500 Forecast Evercore's strategist predicts the S&P 500 could hit 9,000, about 17% upside, citing AI-driven market strength. This boosts Evercore's reputation and may attract more clients, supporting its stock price.
Shows Evercore's influential market view, which can enhance its brand and business prospects.
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OpenAI Partnership Evercore helped design OpenAI's new ChatGPT for Financial Services, a tool for investment banking tasks. This positions Evercore as a tech-forward firm, potentially improving efficiency and client offerings, which could lift its stock.
Highlights Evercore's adoption of AI, which may drive future growth and competitiveness.
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Strong Apple Upgrade Cycle Evercore's survey shows a stronger iPhone upgrade cycle, with pricing up over 20%. This supports its bullish Apple call and raises its target to $380, reinforcing Evercore's research credibility and potentially boosting its stock.
Demonstrates Evercore's research impact and positive client sentiment, which can enhance its franchise value.
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Mixed Analyst Calls Evercore issued a Street-high Uber target and a Meta Outperform, but downgraded Chewy on thin margins. While bullish calls showcase expertise, the downgrade shows balanced research, with overall neutral to positive impact on Evercore's stock.
Reflects Evercore's active research coverage, which drives its reputation but may not directly move its own stock.
Q3 2026
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Evercore's Research Drives Bullish Calls and AI Partnership
▲
Bullish S&P 500 Forecast Evercore's strategist predicts the S&P 500 could hit 9,000, about 17% upside, citing AI-driven market strength. This boosts Evercore's reputation and may attract more clients, supporting its stock price.
Shows Evercore's influential market view, which can enhance its brand and business prospects.
▲
OpenAI Partnership Evercore helped design OpenAI's new ChatGPT for Financial Services, a tool for investment banking tasks. This positions Evercore as a tech-forward firm, potentially improving efficiency and client offerings, which could lift its stock.
Highlights Evercore's adoption of AI, which may drive future growth and competitiveness.
▲
Strong Apple Upgrade Cycle Evercore's survey shows a stronger iPhone upgrade cycle, with pricing up over 20%. This supports its bullish Apple call and raises its target to $380, reinforcing Evercore's research credibility and potentially boosting its stock.
Demonstrates Evercore's research impact and positive client sentiment, which can enhance its franchise value.
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Mixed Analyst Calls Evercore issued a Street-high Uber target and a Meta Outperform, but downgraded Chewy on thin margins. While bullish calls showcase expertise, the downgrade shows balanced research, with overall neutral to positive impact on Evercore's stock.
Reflects Evercore's active research coverage, which drives its reputation but may not directly move its own stock.
News & notes movingEVR
United States
EVR▲impact 4
Accenture Jumps 15.8% on Q4 Earnings Beat and $22.2 Billion in New Bookings
Accenture PLC shares climbed 15.78 percent to close at $212.30, a third straight day of gains, after the IT services giant reported stronger-than-expected fourth-quarter fiscal 2026 results and new bookings that eased fears about AI disrupting consulting firms. Attributable net income surged 40.8 percent to $1.99 billion from $1.413 billion a year earlier, while revenues grew 6.25 percent to $18.68 billion from $17.6 billion. New bookings rose 4 percent to $22.2 billion, comprising $9.4 billion from consulting and $12.77 billion from managed services. Chairman and CEO Julie Sweet said the company exceeded its fourth-quarter revenue guidance range, grew adjusted EPS 8 percent, returned a record $11.5 billion to shareholders and reached a new high of 141 quarterly client bookings of $100 million or more. Accenture guided full-year 2027 revenue growth of 3 to 6 percent, slower than the 6.5 percent jump in fiscal 2025, with GAAP diluted earnings per share projected at $14.39 to $14.81, implying 6 to 9 percent growth, and plans to return at least $9.5 billion in cash to shareholders. Evercore raised its price target to $250 from $180, Stifel hiked its target to $242 from $225, and Baird lifted its target to $245 from $190, while TD Cowen kept a hold rating and $173 target.
Nike Faces Another 'Reset Moment' as Evercore Warns of Spring 2027 Order Cuts
Nike could be headed for another "reset moment" when it reports earnings later this week, with Evercore ISI analyst Michael Binetti warning that the sportswear giant may need to signal lower second-half fiscal 2027 revenue. Binetti said Nike has likely seen cancellations or negative order revisions from retailers for Spring 2027 since its last earnings call, which he expects to translate into further negativity in the company's fiscal second-half 2027 revenue outlook, and he argued that with a new CFO joining, it might make sense to lower that outlook on this call. The report lands against a rough backdrop: Nike stock is down about 25% since its last earnings report on May 28, trades near a 52-week low, is off 53% from its year-ago peak, and has seen its market cap roughly cut in half since 2021 highs. Nike projected fiscal first-quarter revenues down by low-to-mid-single-digit percentages and reiterated flat earnings per share growth over the next three quarters, excluding benefits from tariff recovery proceeds, after reporting fiscal fourth-quarter revenue of $11 billion, a 1% reported decline and a 4% currency-neutral drop, with diluted earnings per share of $0.72 inflated by a $0.52 per share one-time tariff recovery benefit. Stifel analyst Peter McGoldrick said in his own preview that risk-reward remains hung up on insufficient consumer demand for new products while Hoops Classics, 18% of revenue, continues to shrink, and that at 17x 2027 calendar year price-to-earnings estimates versus a footwear median of 11x, he sees risk to the multiple if the turnaround timeline slips again. The company also faces the loss of soccer icon Kylian Mbappé, who ended his long-term Nike tie-up this month to join Swiss sports giant On, and a brutal late-August warning from Dick's Sporting Goods tied in part to Nike heavily discounting slow-moving product, while CEO Elliott Hill continues to battle execution issues, changing sneaker preferences, cautious consumers, and hungry competitors like On.
NKE · Competition · Negative Soccer icon Kylian Mbappé ended his long-term Nike tie-up to join rival On, a competitive loss for Nike.
NKE · Demand · Negative Retailers have cancelled or negatively revised Spring 2027 orders, signaling weak end-customer demand for Nike products.
ONON · Competition · Positive On gains from Kylian Mbappé ending his Nike tie-up to join the Swiss sports giant, a competitive win.
EVR · Capital · Neutral Evercore analyst Binetti warns of Nike Spring 2027 order cuts and a possible lowered outlook; the call concerns Nike, not Evercore's own business.
SF · Capital · Neutral Stifel analyst McGoldrick's preview flags insufficient consumer demand and multiple risk for Nike; the commentary concerns Nike, not Stifel's own business.
DKS · Demand · Negative Article references a brutal late-August warning from Dick's Sporting Goods, implying weak demand for Nike products at retail.
Evercore warns yield-curve inversion risk rising as AI bull market holds firm
Evercore ISI said the risk of a U.S. yield-curve inversion is increasing as the Federal Reserve's rate-hiking cycle and rising long-term yields pressure the spread between short- and long-dated Treasury yields, while the artificial intelligence-driven stock market rally remains intact. The strategists said the 2-year/10-year Treasury spread had flattened materially, with the last comparable move eventually preceding an inversion in 2022 as the Fed raised rates, and noted that an inverted curve has historically been a leading indicator of recession and equity-market downturns, though timing has varied significantly. Evercore said the average lead time between an inversion and recession has been about 15 months, ranging from five months after the 2019 inversion to 34 months after the 1978 episode, and that 1998 and 2022 produced inversions without an economic contraction. The strategists said inversions historically have been followed by near-term equity volatility and sideways trading but did not necessarily mark the end of a longer-term bull market, pointing to 1998, when a relatively brief inversion was followed by a 22% market drawdown but did not prevent the broader structural bull market from continuing. Despite the risk, Evercore continues to retain long exposure to AI-related sectors including Information Technology, Communication Services and Consumer Discretionary, arguing there is not yet clear evidence of economic damage from higher energy prices or Treasury yields, and recommends a partial defensive tilt rather than abandoning AI exposure, with negative beta stocks serving as a hedge against macro shocks in an AI-heavy portfolio. The note said corporate surveys remained expansionary, jobless claims subdued and credit spreads contained, although oil prices near $95 a barrel and 10-year Treasury yields above 5% remained pressure points.
EVR · · Neutral Evercore ISI is the author of the note warning of rising yield-curve inversion risk while retaining AI-sector exposure; no company-specific financial event.
NVDA · Demand · Positive Evercore retains long exposure to AI-related sectors including Information Technology, implying continued investor demand for AI names like NVIDIA.
McDonald's Price Targets Cut After Investor Day Selloff
McDonald's drew price target cuts a day after its investor day, with BMO Capital lowering its target to $310 and Evercore ISI cutting its target to $300 from $320, both keeping Outperform ratings. The analyst moves follow a 4.81% drop in the shares during Wednesday's session, when McDonald's laid out its NEXT strategy and 2030 targets. BMO said the planned investment came in lower than expected, with productivity gains front-loaded, but that the presentation lacked visibility on specific initiatives and the pace of spending, and it estimates the plan will cut earnings per share by about 1% in 2027 and 2028, rising to 2% to 3% by 2030. Evercore trimmed its 2027 through 2030 estimates by roughly 3%, pointing to refranchising, rent relief and slightly softer same-store sales, and attributed much of the stock's underperformance to a six-point compression in its price-to-earnings multiple as U.S. comparable sales disappointed. Evercore's $300 target equals 22x 2027 and 20x 2028 estimated earnings, with the stock at $238.90 in premarket trading, near its 52-week low of $234.03.
MCD · Capital · Negative McDonald's drew price target cuts from BMO and Evercore after its investor day, with the plan seen cutting EPS ~1% in 2027-2028 and rising to 2-3% by 2030.
EVR · Capital · Negative Evercore cut its McDonald's price target to $300 from $320 and trimmed 2027-2030 estimates by ~3%.
Evercore Survey Points to Stronger-Than-Expected iPhone Upgrade Cycle for Apple
Evercore ISI told investors that its latest consumer survey points to a stronger-than-expected iPhone upgrade cycle for Apple, with pricing set to provide a sizable tailwind. The firm's annual survey of nearly 4,000 consumers indicated a better-than-expected refresh cycle led by the newest models, and Evercore said pricing could rise more than 20% on higher list prices, pricier models and a shift toward larger memory configurations. The firm wrote that Pro Max remains king, with 53% of respondents planning to buy the iPhone 18 Pro or Pro Max and 32% specifically eyeing the Pro Max, up from 29% a year ago, while demand for the new foldable iPhone Duo looked more subdued at 14% ahead of its mid-October launch. Upgrades are increasingly driven by aging devices, with 67% of respondents citing an old iPhone, up from 48% last year, and as consumers gravitate toward higher memory tiers and Apple rolls out 2-terabyte Pro and Duo models, Evercore sees average selling prices rising about 28%. The firm also flagged stronger interest in wearables, with Apple Watch purchase intentions at 38% and AirPods at 43%, both up on last year, and while it cautioned the survey is U.S.-specific, it said demand appears modestly ahead of last year and points to upside to fiscal 2027 revenue versus Street estimates of about 7% growth, keeping its outperform rating and raising its target to $380.
AAPL · Demand · Positive Evercore survey shows stronger-than-expected iPhone upgrade cycle, higher Pro Max and wearables purchase intentions, and upside to fiscal 2027 revenue.
AAPL · Pricing · Positive Evercore sees iPhone pricing rising over 20% and ASPs up ~28% on higher list prices, pricier models and larger memory configurations.
EVR · Capital · Positive Evercore ISI's survey and raised Apple price target to $380 reflect its analyst research, keeping its outperform rating.
Chewy Posts 7.3% Sales Gain, Raised Outlook as Evercore Downgrades on Thin Margin Beat
Chewy reported second-quarter results on September 9, 2026, with net sales up 7.3% to $3.33 billion, adjusted EPS of $0.36, and a raised full-year outlook. Following the results, Evercore ISI downgraded Chewy to In Line, while RBC and TD Cowen cut their price targets, and the stock fell roughly 10% intraday before bouncing, sitting about 48% below its 52-week high. Active customers rose 3.8% to 21.7 million, and AI is expected to deliver approximately $50 million of annualized savings in fiscal 2027, but organic revenue growth excluding M&A slowed to 5.7%. The 6.8% adjusted EBITDA margin benefited from tariff refunds, rebate timing and other discrete items that management said accounted for essentially all of the quarter's adjusted EBITDA outperformance versus expectations. According to Evercore ISI, the quarter delivered only a minimal beat-and-raise, leaving the stock in need of an obvious growth catalyst, with none on the horizon, and the shares trade at 35x earnings. Insider Monkey data shows 44 hedge funds held CHWY in the second quarter of 2026, down from 53 in the first quarter.
CHWY · Capital · Negative Evercore downgraded Chewy to In Line and RBC/TD Cowen cut price targets after a thin beat-and-raise, with the margin outperformance driven by one-off tariff refunds and rebate timing.
CHWY · Demand · Positive Chewy posted 7.3% net sales growth to $3.33 billion, raised its full-year outlook, and active customers rose 3.8% to 21.7 million.
EVR · Capital · Negative Evercore ISI downgraded Chewy to In Line, saying the quarter was only a minimal beat-and-raise with no obvious growth catalyst.
RY · Capital · Negative RBC cut its price target on Chewy following the second-quarter results.
Meta Launches Muse AI Assistant as Evercore ISI Sees Over 50% Odds of Success
Meta Platforms launched Muse this week, an AI assistant powered by its Muse Spark model and aimed at consumers and small businesses. Evercore ISI analyst Mark Mahaney reiterated an Outperform rating on the stock with an $860.00 price target on September 9, seeing more than a 50% chance that Meta successfully rolls out AI agents to consumers and small businesses. Muse is available in the US as a standalone app and through WhatsApp, and Meta is offering a basic version for free while heavier users can subscribe to $20 per month and $100 per month plans. Evercore ISI bases its positive view on Meta's roughly 3.6 billion daily users and an estimated 15 million small businesses across Facebook, Instagram, and WhatsApp. Meta reported revenues of $60.8 billion, up 28% year-over-year, but costs and expenses increased 55%, operating income fell 8%, and operating margin declined to 31% from 43%.
OpenAI launches ChatGPT for Financial Services, integrating LSEG and PitchBook data in investment banking push
OpenAI has launched a new product called ChatGPT for Financial Services, a version developed specifically for the financial services industry, combining its latest AI models with data from leading providers such as LSEG, PitchBook and Daloopa to target investment bankers and equity analysts. The company said it developed the product jointly with Morgan Stanley and Evercore, which served as design partners in shaping the product's format and capabilities. The product is powered by GPT-6 Astra, the company's newest model, developed to improve retrieval of information from financial tools, reasoning over financial data, and the accuracy of AI-generated content. It builds on the security systems of ChatGPT Enterprise, including role-based access controls, data encryption, and export of activity logs within the workspace for audit processes. Users can research data from multiple sources, build financial models, and prepare client documents such as pitchbooks using their own firm's templates. The data sets cover everything from earnings call transcripts and financial statements to company fundamentals from sources including Daloopa, LSEG News, PitchBook, Crunchbase and Quartr, which will be indexed on OpenAI's own infrastructure, while financial institutions that already have their own databases can connect through providers such as FactSet, S&P Global, Preqin and Datasite. In the next phase, OpenAI plans to expand the coverage of its databases and broaden its user base from investment banking and equity research to other businesses and functions across the wider financial services industry.
Artificial Intelligence › AI Applications & Copilots ▲Demand
Cloud & Digital Infrastructure › Horizontal SaaS Competition
EVR · Demand · Positive Evercore served as a design partner in shaping OpenAI's ChatGPT for Financial Services product, a company-specific collaboration.
MS · Demand · Positive Morgan Stanley developed the ChatGPT for Financial Services product jointly with OpenAI as a design partner.
Uber Trades 44% Below Consensus Target as Evercore Sees It Doubling to $150
Uber shares are trading at $71.10, roughly 44% below the Wall Street consensus 12-month price target of $102.13, even as Evercore ISI analyst Mark Mahaney keeps a Street-high $150 target that implies about 111% upside. The stock is down more than 30% from its 52-week high and 25.51% over the past year, pressured by a string of top-line misses: Q2 FY2026 revenue of $14.19 billion came in 0.5% below consensus and EPS of $0.81 fell short of the $0.83 estimate, following misses in Q1 and Q4, the latter driven by a $1.6 billion equity revaluation headwind. Mahaney's bull case rests on the Uber One subscription flywheel, where members spend roughly 3x more than non-members, accelerating free cash flow conversion, and expansion into higher-margin verticals such as advertising, grocery, and travel; gross bookings grew 22% year on year in Q2 to more than $58 billion, non-GAAP EPS grew 35%, and trailing 12-month free cash flow crossed $10 billion for the first time. Among gig-economy peers, Lyft trades near $14.90, down 23.08% year to date against a $19.84 consensus target, DoorDash sits at $197.25, off 12.91% year to date versus a $254.43 target, and Grab Holdings trades at $3.04 after a 39.08% year-to-date decline, with analysts pegging fair value at $5.86 for roughly 93% upside, the largest consensus gap in the group. Uber is down 12.98% year to date while the S&P 500 is up 11.81%, a roughly 25-point relative underperformance for a company that just posted 35% non-GAAP EPS growth.
Cerberus Sells Tenet Equity to CBRE Investment Management for $1.6 Billion
Cerberus Capital Management has sold Tenet Equity, a national net lease investment platform it founded in 2021, to CBRE Investment Management for $1.6 billion. The sale, announced today, involves funds and accounts managed by Cerberus, with CBRE investing on behalf of several of its strategies. Tenet, which provides triple net lease financing to middle-market companies, has grown to include over 200 properties totaling approximately 12 million square feet across 39 states and 26 industries. Cerberus executives highlighted the company's success and its position for future growth, while Evercore served as exclusive financial advisor and Kirkland & Ellis LLP as legal counsel to Cerberus.
Tenet Equity · Capital · Positive Tenet Equity is the subject of the $1.6B sale from Cerberus to CBRE Investment Management.
CBRE Investment Management · Capital · Positive CBRE Investment Management is the acquirer of Tenet Equity for $1.6 billion, expanding its net lease platform.
EVR · Capital · Positive Evercore served as exclusive financial advisor on the $1.6B Tenet Equity sale, earning advisory fees.
Evercore expects third-quarter investment banking and trading guidance from banks to come in below consensus estimates, citing capital markets indicators tracking below expectations. In its August Capital Markets Monthly report, Evercore noted that investment banking volumes fell 6% year over year in July, with debt capital markets and syndicated lending down 18%, while equity capital markets surged 119% and M&A rose 11%. Trading indicators improved after a slow July, with most fixed income, currencies, and commodities measures showing double-digit growth, including a 17% rise in FX and commodities, 10% in credit, and 2% in rates. Equities were mixed, with CBOE volumes down 4% but retail activity up 43% and options up 14%. Margin balances were 32% higher year over year, and Evercore suggests that current activity implies Street earnings estimates may be too high, with wealth management commentary expected to meet or slightly miss expectations.
SpaceX to Launch Nvidia-Powered AI Satellites in Late 2027
SpaceX CEO Elon Musk announced that the company will launch its first artificial intelligence satellites using Nvidia technology in the fourth quarter of 2027, with the orbital data center network reaching significant scale in 2028. This initiative is part of a deepening partnership between the two firms, as Nvidia's CFO Colette Kress confirmed that the Vera Rubin system is in full production with shipments to Oracle, Amazon, and SpaceX. Evercore ISI analysts noted that Nvidia holds 122.8 million SpaceX shares, making it both a major supplier and shareholder, and that SpaceX data centers will run exclusively on Nvidia accelerators. The project faces technological hurdles, including heat dissipation in the vacuum of space, which the Brookings Institute says would require 2.15 million square feet of radiators for a single orbital data center. Evercore does not expect meaningful revenue from orbital compute until fiscal year 2029, but maintains an Outperform rating and a $230 price target for SpaceX.
Artificial Intelligence › Foundation Models & Research Labs Competition
NVDA · Demand · Positive SpaceX's orbital AI data centers will run exclusively on Nvidia accelerators, with Vera Rubin shipments to SpaceX, Oracle, and Amazon
SPCX · Technology · Positive SpaceX announced it will launch its first Nvidia-powered AI satellites in Q4 2027, advancing its orbital data center network
EVR · Capital · Neutral Evercore ISI is cited for its analyst note on Nvidia's SpaceX stake and Outperform rating, but the article does not report on Evercore's own business
Dell Technologies is set to face its next big test as its AI-driven stock surge meets upcoming earnings. The company's shares have gained over 235% in 2026, fueled by soaring demand for AI servers and infrastructure. Evercore ISI analyst Amit Daryanani maintains an Outperform rating with a $550 price target ahead of Dell's Sept. 1 results. In its last report, Dell booked $24.4 billion in AI orders, made $16.1 billion in AI server revenue, and ended with a record $51.3 billion backlog. Evercore expects Dell to exceed Wall Street's fiscal second-quarter projections and raise its fiscal 2027 forecast, with strong spending from AI customers like CoreWeave and SpaceX potentially boosting demand. However, after such a significant surge, even meeting expectations may not suffice, and Dell must demonstrate that AI demand is robust enough to sustain revenue and outlook.
Evercore Sees S&P 500 Reaching 9,000 in Upside Scenario
Evercore ISI strategist Julian Emanuel says the S&P 500 could climb to 9,000 over the next year, arguing that the AI-driven bull market still lacks the excesses that typically precede major market peaks. The call implies roughly 17% upside from current levels and suggests investors may be underestimating how much further the rally can run. Evercore's established year-end 2026 base case remains 7,750, while the firm has assigned roughly a 30% probability to an upside scenario reaching 9,000, driven particularly by AI-sensitive technology, communication-services and consumer-discretionary stocks. The firm is also finding opportunities outside the market's biggest AI winners, with analyst Kutgun Maral rating Fubo Outperform with an $18 target implying about 80% upside, and analyst Nicholas Amicucci setting a $51 target on SOLV Energy implying 62% upside.
Apnimed Shares Rise After Upsized $192 Million US IPO
Apnimed Inc., a late-stage drug developer focused on sleep apnea, rose 6.3% on Friday after raising $192 million in an upsized US initial public offering. The company sold 12 million shares at $16 each, above the marketed range of 10 million shares for $14 to $16, and the stock traded at $17 per share as of 11:57 a.m. in New York. The listing gives the Cambridge, Massachusetts-based firm a market value of about $680 million. Apnimed is developing an oral tablet, Oxnimbi, to treat obstructive sleep apnea and submitted a marketing application to the US Food and Drug Administration in April, with a regulatory review expected to take 10 months. The offering was led by Bank of America Corp., Evercore Inc., Cantor Fitzgerald and LifeSci Capital, and shares trade on the Nasdaq Global Market under the symbol APMD.
Carlyle and Bain are final bidders for Wealth Enhancement in $7 billion deal
Carlyle and Bain Capital are the final bidders to acquire Wealth Enhancement in a deal that could value the wealth management platform at about $7 billion including debt, the Financial Times reported. Wealth Enhancement oversees nearly $160 billion in client assets, and its private equity owners TA Associates and Onex have put the business up for sale. The sale process, run by Evercore, is at an advanced stage but may not result in a transaction, and the current owners could still decide to keep the business. The company is a registered investment adviser that has expanded through acquisitions, buying at least six smaller firms since last year. The wealth management sector has attracted private equity interest due to recurring revenues and stable client relationships, with other notable deals including Mubadala Capital's $8.8 billion take-private of CI Financial and Clayton Dubilier & Rice's $7 billion buyout of Focus Financial Partners.
Wealth Enhancement Group · Capital · Positive Wealth Enhancement is the subject of a potential $7 billion acquisition by Carlyle and Bain Capital, which would provide a premium to current owners.
CG · Capital · Positive Carlyle is a final bidder for Wealth Enhancement, a $7B deal that would expand its wealth management portfolio.
Bain Capital · Capital · Positive Bain Capital is a final bidder for Wealth Enhancement, a $7B deal that would expand its wealth management portfolio.
EVR · Capital · Positive Evercore is running the sale process, generating advisory fees from a large M&A transaction.
5987.JP · Capital · Negative Onex is a current owner selling Wealth Enhancement, potentially losing a valuable asset.
TA Associates · Capital · Negative TA Associates is a current owner selling Wealth Enhancement, potentially losing a valuable asset.
Evercore advises on restructuring and adds senior hire
Evercore has advised United PF Holdings on a debt-for-equity restructuring and added veteran healthcare banker Eric Rabinowitz as a senior managing director in New York. The firm's share price recently closed at $331.04, with a fair value estimate of $374.60, suggesting it may be undervalued. Evercore's 1-year total shareholder return stands at 14.01% and its 3-year total shareholder return at about 16.5 times. The company continues to expand internationally, opening offices in EMEA markets including France, Spain, Italy, Dubai, and the UK.
EVR · Capital · Positive Evercore advised on a restructuring and added a senior hire, with a fair value estimate above current price suggesting undervaluation.
United PF Holdings · Capital · Positive United PF Holdings completed a debt-for-equity restructuring advised by Evercore, improving its financial position.
StockStory highlights two unpopular stocks to buy and one to sell
StockStory identifies RBC Bearings and Evercore as two unpopular stocks deserving a second chance, while recommending selling Lake City Bank. RBC Bearings posted 25.2% annual revenue growth over five years and a 15.5% free cash flow margin, with earnings per share growing 19.8% annually over the past two years. Evercore achieved 36.6% annual revenue growth over two years and 70.2% annual earnings per share growth, supported by a stellar return on equity. Lake City Bank lagged with 5.1% annual revenue growth over five years and earnings per share growth of only 3.9% annually, trailing its revenue gains.
Perella Weinberg posts weakest Q1 among investment banks, revenue down 29.7%
Perella Weinberg reported first-quarter revenues of $148.9 million, a 29.7% decline year on year and 10.5% below analyst expectations, making it the weakest performer among 15 tracked investment banking and brokerage stocks. The group overall posted mixed results, with aggregate revenues beating consensus estimates by 0.5% but next-quarter guidance coming in 1.4% below forecasts. Evercore stood out with revenues of $1.40 billion, up 100% year on year and exceeding estimates by 16.6%, while Lazard, Moelis, and Piper Sandler reported mixed outcomes. Perella Weinberg shares have fallen 27.1% since the release, trading at $16.57.
PWP · Capital · Negative Perella Weinberg reported Q1 revenues of $148.9M, down 29.7% YoY and 10.5% below expectations, the weakest among tracked banks.
EVR · Capital · Positive Evercore reported revenues of $1.40 billion, up 100% YoY and 16.6% above estimates, making it the standout performer.
LAZ · Capital · Neutral Lazard reported mixed outcomes, but no specific figures or direction given.
MC · Capital · Neutral Moelis reported mixed outcomes, but no specific figures or direction given.
PIPR · Capital · Neutral Piper Sandler reported mixed outcomes, but no specific figures or direction given.
Evercore has demonstrated robust financial performance, with earnings per share growing at a 70.2% compounded annual rate over the past two years, significantly outpacing its 36.6% annualized revenue growth. The company’s revenue has expanded at a 12.3% compound annual growth rate over five years, and it has maintained an average return on equity of 33.5% during that period, well above the sector average of around 10%. Shares currently trade at $366.81, representing a forward price-to-earnings multiple of 20.8 times.
Stifel Posts Record Q1 Revenue but Shares Fall 10.3%
Stifel Financial reported first-quarter revenues of $1.44 billion, up 14.8% year on year and in line with analyst expectations, but its stock dropped 10.3% since the announcement. The firm, one of 15 investment banking and brokerage stocks tracked, delivered record quarterly results with earnings per share of $1.48, beating estimates. In contrast, Evercore posted the strongest performance among peers with revenues of $1.40 billion, a 100% year-on-year surge that exceeded expectations by 16.6%, sending its shares up 9.8%. Perella Weinberg was the weakest, with revenues falling 29.7% to $148.9 million, missing estimates by 10.5% and causing a 29.7% stock decline. Morgan Stanley reported revenues of $20.58 billion, up 16% and beating estimates by 4%, while Charles Schwab's $6.48 billion in revenues, up 15.8%, met expectations.
CRH to acquire US-based Arcosa in $8.5 billion all-cash deal
Irish construction solutions provider CRH has agreed to acquire US-based infrastructure materials company Arcosa in an all-cash transaction valued at approximately $8.5 billion. The deal offers Arcosa shareholders $150 per share, a 25% premium to the 60-day volume weighted average price as of June 18, and is expected to close in the first quarter of 2027 pending shareholder and regulatory approvals. CRH values Arcosa at an estimated acquisition multiple of 11.5 times its projected 2026 adjusted EBITDA and anticipates annual run-rate cost synergies of $175 million within three years. Arcosa operates 109 quarries and yards, nine asphalt plants, and 19 terminals, with expected annual aggregate shipments of around 35 million tonnes and a top-three US market position in engineered structures. CRH plans to fund the transaction through available cash and committed debt financing, with J.P. Morgan and Morgan Stanley as financial advisors and Kirkland & Ellis as legal counsel, while Arcosa is advised by Evercore and Goldman Sachs with legal guidance from Gibson Dunn and Baker Botts.
Dennis Cornell Joins Evercore as Senior Managing Director in Private Capital Markets
Evercore has appointed Dennis Cornell as a senior managing director in its private capital markets group, based in New York. Cornell brings more than 25 years of investment banking and capital markets experience, most recently serving as a partner at Apollo Global Management where he originated bespoke capital solutions for corporate and sponsor clients. He previously held a managing director role at Moelis & Co. and spent 20 years at Morgan Stanley, where he led energy investment banking for the Americas. Evercore co-head of U.S. investment banking Dan Mendelow said Cornell's sponsor, corporate, and investor relationships will accelerate growth in the firm's capital markets franchise. The hire is part of Evercore's ongoing expansion of its private capital markets platform, which includes broadening origination capabilities and product offerings across debt and equity placements, securitization, and ratings advisory.
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