MSCI initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of MSCI with an Equal Weight rating and $570 price target. The company’s relative premium to the market has fallen considerably, which is justified with elevated cancels being experienced across the business, even though its Analytics growth “remains robust”, the analyst tells investors in a research note. The firm adds however that it awaits more convincing signs that end-market pressures are easing and that ESG & Climate has bottomed.