As previously reported, Redburn upgraded FactSet to Neutral from Sell with a $393 fair value estimate. FactSet’s strong ASV growth in Q2 "demonstrates its ability to continue growing" within its total addressable market, but the impact from the current weak economic backdrop "may yet to be felt in future renewals and new sales," the analyst tells investors. However, the valuation appears more attractive post the recent underperformance of the shares, added the analyst.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FDS: