Morningstar upgraded to Buy from Neutral at Redburn Atlantic

Redburn Atlantic analyst Russell Quelch upgraded Morningstar to Buy from Neutral with a $320 price target. The analyst says the company is “emerging from a difficult period.” Morningstar’s sales growth is improving as cyclical revenues move beyond tough year-over-year comparisons, while growth in its “higher quality” license-based revenue remains robust and supported by several underlying structural growth drivers, the analyst tells investors in a research note. The firm sees an attractive valuation setup post the Q3 report.