Evercore Partners announces strategic cooperation agreement with VTB Capital Evercore Partners and VTB Capital have announced that the two firms have established a strategic cooperation agreement to work together in developing cross-border transactions between Russia and North America. Through this alliance, Evercore Partners and VTB Capital will leverage their combined expertise, strong knowledge of global and local markets and deep corporate relationships to provide high quality, objective advice to their clients. The cooperation will allow VTB Capital and Evercore Partners to develop joint business opportunities for cross border transactions and other projects involving Russian and North American companies, funds, government agencies, individuals and assets.
Evercore Partners downgraded to Neutral from Buy at Goldman Goldman assumed coverage on Evercore with a Neutral rating from a Buy rating and increased its price target to $62 from $60. The firm believes the impact from heavy recruiting and the integration of ISI will slow margin expansion near-term.