FactSet price target lowered to $454 from $477 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on FactSet to $454 from $477 and keeps a Buy rating on the shares after the company reported "solid" fiscal Q2 results, but lowered its FY23 Annual Subscription Value guidance to 8% at the midpoint. The lower ASV guidance cut was mainly attributed to Banking clients due to evolving market conditions and some erosion of business due to budget cuts, said the firm, which notes that the company is conservatively assuming smaller incoming class sizes in banking in Q4 than previously anticipated.