Business

Asset manager slips lower on downgrade

Thomas Faust is the firm’s CEO.
Thomas Faust is the firm’s CEO.Yoon S. Byun/globe staff/file 2012

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Shares of Boston-based Eaton Vance Corp. fell Monday after Goldman Sachs downgraded the asset management company from neutral to sell. Along with the downgrade, analyst Marc Irizarry lowered his price target to $33 from $45. Irizarry expressed concerns over weaker cash flows and “strong industry headwinds.” Goldman also lowered its 2014, 2015, and 2016 earnings per share estimates.

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