Raymond James analyst Patrick O’Shaughnessy downgraded MSCI to Market Perform from Outperform without a price target. The analyst sees a “handful of moderating secular tailwinds” heading into the company’s Q4 results, including index subscriptions, ESG subscriptions, and linked ETF inflows, as well as potential downside risk to the company’s valuation multiple. The firm cites valuation and moderating tailwinds for the downgrade.
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